SINGAPORE, April 16, 2020 /PRNewswire/ -- Plug and Play, the world's largest global innovation platform, and AsiaPay, the regional leading digital payment service and solution provider, have announced a new partnership to help AsiaPay work closer with innovative startups through Plug and Play's Singapore Fintech program. The primary focus will be startups with pioneering and innovative solutions to enhance the quality of the financial services and e-Commerce industries.
Being the first Fintech company based in Hong Kong, joining hand with Plug and Play, AsiaPay envisages adapting the global avant-garde in Asian context. Through this new partnership in Singapore, AsiaPay seeks to specifically pilot innovation projects throughout their Southeast Asia businesses. AsiaPay joins Plug and Play for their fourth batch of the Fintech accelerator program, which together with their Insurtech program will is currently accelerating 23 startups from across the world in a three-month program which started last week.
"We are proud to partner with Plug & Play on digital commerce innovation," said Joseph Chan, CEO of AsiaPay. "To allow us to learn from and strengthen our engagement with innovative startups in the region, and to grow and synergize together. It further scales up our ecosystem that we aim to build in digital commerce and payment space in Asia. We look forward to growing our presence in innovation space in Asia and bring innovative services and solutions to our bank and merchant clients, by leveraging on the global innovative knowhow and applying them in regional and local applications."
Starting from late 2019, AsiaPay announced its pilot venture program which aims at incubating startups to accelerate regionally with their innovative solutions offerings.
AsiaPay is a premier digital payment gateway company, currently operating in over 15 countries in APAC and Europe. Our partnership will provide them with global visibility into the most innovative startups who are transforming digital payment processing solutions and services in banks and financial institutions, says Shawn Dehpanah, EVP and Head of Corporate Innovation at Plug and Play Asia Pacific.
Plug and Play now works with thirteen corporations in their Fintech and Insurtech programs, including MSIG, Tokio Marine, Willis Towers Watson, Astra Financial, Cathay Financial, Krung Thai Bank, Aon, and Swiss Re. Plug and Play Singapore serves as the regional hub for Plug and Play's innovation platform and investment arm in Southeast Asia. They currently run five accelerator programs focused on Insurtech, Fintech, Travel, Sustainability, with future plans to launch a regional Health platform.
Founded in 2000, AsiaPay, a premier electronic payment service and technology player, strives to bring advanced, secure, integrated and cost-effective electronic payment processing solutions and services to banks, corporate and e-Businesses in the worldwide market, covering an array of international credit card, debit card, prepaid card, netbanking, eWallet and QR, as well as cash collection.
AsiaPay is an accredited payment processor and payment gateway solution vendor for banks, certified ISO and PF for serving merchants, certified international 3-D Secure vendor for Visa, MasterCard, American Express and JCB. AsiaPay offers its variety of award-winning payment solutions that are multi-currency, multi-lingual, multi-card and multi-channel, together with its advanced fraud detection, payment analytic and management solutions.
Headquartered in Hong Kong, AsiaPay offers its professional e-Payment solution consultancy and quality local service support across its other 16 offices in Asia including: Thailand, Philippines, Singapore, Malaysia, Mainland China, Taiwan, Vietnam, Indonesia, AU and India.
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 25 locations globally, giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 300 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal. Our Singapore office was launched in 2010 to invest in high tech startups in the region. Since then we have invested in more than 30 startups and have collaborated with various agencies of the Singapore and Indonesian governments, as well as partnered with multinational and regional corporations to run industry-specific accelerator programs.