2C2P’s Online-To-Offline E-commerce Service ‘123’ Now Available At Over 320,000 Locations

·         What it is: ‘123’ is an alternative payment service which allows
consumers across Southeast Asia (SEA) to pay for their online purchases at over
320,000 offline payment locations across Southeast Asia (including retail
chains, electronic kiosks, agent networks, bank branches,  ATMs, internet
banking, mobile banking, direct debit)

·         How it works: At online check-out, consumers will have
the option to pay for purchases using 123. They will then be provided a bar
code which can be printed out or scanned from their mobile devices, enabling
them to then pay with cash or alternate means at these 320k locations

·         O2O enabler: 123 enables online retailers to bring online commerce to
the region’s unbanked population; tapping into SEA’s e-commerce boom

SINGAPORE, 7 NOVEMBER
2016 – 2C2P, the leading
Southeast Asian payments company which processes billions of dollars in
transactions each year, has announced 320,000 offline payment locations for its
‘123’ payment solution. ‘123’ is an alternative payment service. Through it,
consumers of 2C2P’s merchants across Southeast Asia (SEA) can pay for their
online purchases with cash or alternate means at these 320,000 offline payment
locations. 2C2P’s merchant partners include some of the largest online
retailers across Southeast Asia, spanning the travel and tourism, retail, food
and beverage and hospitality industries, among others.  123 enables these
online retailers to bring online commerce to the region’s unbanked population
which, according to KPMG, spanned 73 per cent of the region’s population, or
438 million people.

At online check-out,
their consumers will have the option to pay for purchases using 123. They will
be provided a bar code which can be printed out or scanned from their mobile
devices, enabling them to then pay with cash or alternate means 2C2P’s
extensive network of offline payment locations – available through 2C2P’s
channel partners. Payment channels include cash over-the-counter at retail
chains and agents, ATMs and electronic kiosks (such as AXS, SAM,
SingPost), as well as internet banking and mobile banking. These locations are
available across Southeast Asia, including Indonesia, Malaysia, Myanmar, the
Philippines, Singapore and Thailand.

123 has increased its
payment locations across the SEA region, with 12,000 new locations added in
Myanmar in 2016, near ten times the network of the country’s largest bank. It
has achieved this by establishing partnerships with Myanma Post Offices, Myanmar
Awba Group and ABC convenience store chain. Retailers and merchants including
Myanmar National Airlines (MNA) and Oway are among the first in Myanmar to
actively offer 123 to their customer base.

MNA is the largest
airline carrier, and one of only two international carriers in Myanmar. It has
the most extensive route network within the country. With 123, its customers
can book their tickets online and then pay at over 12,000 physical locations
across Myanmar, or pay through AYA Mobile Banking and branches. Customers of
Oway, Myanmar’s largest online travel agent, can use 123 to make travel
bookings more convenient and accessible – all without a debit or a credit card.

Aung Kyaw Moe, CEO and
Founder of 2C2P said, “2C2P has made extensive efforts to open up Myanmar’s
unbanked population to e-commerce. As the country continues to see increased
mobile penetration, rising urbanization and improved consumer spending, there
is an urgent need to modernise its e-commerce and payments infrastructure.
2C2P’s vision is to bring e-commerce to every single person in Myanmar, and
more broadly, in Southeast Asia. In so doing, we look to build the region’s
e-commerce future.

“2C2P, through 123,
looks to bring convenience to Myanmar’s citizens, particularly those that remain
underserved by banking and financial institutions – lacking banks accounts,
credit and debit cards or access to a bank branch. They can now, for the first
time, tap into the fast-growth of national, regional and global e-commerce by
paying for their online purchase at a convenient offline location via 2C2P’s
extensive network of physical channel partner locations,” added Aung.

Myanmar’s Ministry of
Hotels and Tourism estimates 6 million annual inbound tourists for 2016, a 25
per cent increase from 2015 (4.68 million). This number is predicted to cross
7.5 million by 2019. The Asian Development Bank (ADB) is optimistic that
tourism will drive the country’s overall economic growth. It forecasts tourism
revenues to have increased by 19 per cent from 2014 to 2015 to US$2.1 billion –
representing over 4 per cent of Myanmar’s GDP.  Asia-Pacific will overtake
North America to become the largest digital travel market globally in 2019,
according to eMarketer.