2C2P to Work with Diners Club International to Increase Acceptance at Southeast Asia’s E-Commerce Merchants

2C2P to Work with Diners Club International to Increase Acceptance at
Southeast Asia’s E-Commerce Merchants

·  Singapore-headquartered
2C2P signs online payment processing agreement with Diners Club International,
which is part of the Discover Global Network and a wholly owned subsidiary of
Discover Financial Services

·  Alliance will
extend acceptance of  cards running on the Discover Global Network to
Southeast Asian merchants

·  Expands 2C2P’s
global payment processing capabilities, better positioning 2C2P to tap into the
projected US$2 trillion a year U.S. payments market (McKinsey, 2015)

RIVERWOODS, IL and SINGAPORE – December
6, 2016 – 2C2P, the leading Southeast Asian (SEA) payments services
company, and Diners Club International, a subsidiary of Discover Financial
Services and part of the Discover Global Network, announced that 2C2P is a
global acquirer for all cards running on the Discover Global Network. 2C2P’s
SEA merchants can now tap Diners Club International, Discover and other
Discover Global Network cards as an additional payment method. 2C2P will
increase acceptance in the SEA region allowing Discover Global Network
cardholders to use their cards at an increased number of merchants in the
region. 

2C2P will provide its merchants with
single-source electronic payment services for the acceptance of Discover Global
Network, which includes Discover cards from the United States, Diners Club
International as well as its affiliate cards such as BC Global Card from South
Korea, Elo Card from Brazil and RuPay from India.

Aung Kyaw Moe, founder and Group CEO
of 2C2P, said: “With the rise in global online retail and tourism, this
agreement opens up key international travel and entertainment markets such as
Asia, Europe and the U.S. to our Southeast Asian merchants. Cardholders from
Discover Global Network can now enjoy payments access to the region’s travel,
transport, tourism, retail and e-commerce brands.”

“Discover Global Network continues to
increase our merchant acceptance footprint in Southeast Asia through working
with companies such as 2C2P because this region has an increasing number of
Discover Global Network cardholders as a result of our Diners Club and RuPay
networks,” said Ricardo Leite, vice president, Discover Global Network. “2C2P
specializes in e-commerce travel merchants, an important sector to our
cardholders.”

McKinsey estimates the annual revenue
of the global payments market is expected to increase by six percent from 2015
to 2020, exceeding US$2 trillion by 2020. The Asia Pacific region, including
China, accounts for approximately 55 percent of the industry’s revenue growth
worldwide. 

Discover Global Network is the third
largest payments network in the world1. With over 39 million
merchant acceptance locations and 1.9 million ATM and cash access locations
across 185 countries and territories, Discover Global Network includes
Discover, Diners Club International, PULSE and affiliated networks.

“2C2P continues to look for
market-leading partners around the world, to deploy its best-in-class online
payments processing solutions and make it easier for consumers to transact with
the payment instrument of their choice,” added Aung.