During the last 8 months, hit by COVID-19, more and more companies started to leverage digital technologies moving from traditional offline cross-border business activities online.
Max brings more than 15 years’ experience working in fintech, is a digital payment solution expert that helps customers save more than 99% of the time spent with their online advanced payments security, and minimizing the PCI (Payment Card Industry) work and investment through AsiaPay.
Highlights of the interview between Max Ng and Business Sight.
Recently an analysis of data warehouse generated by our merchants during and after the lockdown reveals several new trends. as the virus has changed dramatically in buying experience worldwide.
Firstly, A major step forward in online shopping habits.
There is also as consumers become more cautious when making purchase decisions due to the ongoing pandemic uncertainty, sales of customized products are increasing which are more directly tailored to the needs of consumers. Maybe as a result of COVID-19, customers are looking to invest more in products and services which provide home comfort. we see a surge on service demand and also sales volume growth, Data shows that in addition to books and fitness equipment, luxury home furnishings are in high demand, such as latex mattresses, silk quilts, smart bathroom mirrors, and electrically heated towel racks. Besides, there is also increasing demand for pet-related products and virtual support services-such as programs that store pet profiles and preferences and online pet hospitals. Home entertainment like game sales.
Lastly, Shopping frenzy led by Livestream and community group buying.
“Along with the pandemic, we observe some changes in the market. There could be an opportunity whenever there is a risk.” Max added. “besides there is more concern about face-to-face transactions and social distancing, therefore, digital commerce and payment will be the optimal option. Staying ahead of the game and making sure your business is lockdown-proof.”
In AsiaPay, we encourage our merchants to adopt our integrated and secured payment platform to their eCommerce stores by offering more payment methods to their customers.
Founded in 2000 in HK. AsiaPay strives to be a leading digital payment service and technology player in Asia, providing integrated, secure, advanced digital payment services and solutions to merchants and banks in 15 markets in APAC.
AsiaPay values every merchant as a partner to support their business growth in financial terms. As part of our innovation goal, we aspired to create better user experiences and conveniences through innovations. our latest innovation PayDollar AppPay that helps our business partner to achieve greater conversions rate and productivity wherever you go. Besides, for smart retail solution SDK to facilitate secure interface from merchants’ mobile APP to our gateway. It supports in-app payments for iOS and Android operating systems.
Payment innovation such as PayDollar SDK serves as a tool to help fast track the development and testing of mobile payments applications. Merchants can offer seamless ePayment to their customers by completing their ePurchases on-the-go via mobile devices. Merchants can maximize their business productivity and generate more sales and profitability.
Likewise, companies need to have a strong IT foundation and product development strategy in place to meet unexpected sudden challenges to emerge sustainably stronger and take advantage of the potential business opportunities that come with each crisis.
Although the virus has changed nearly every aspect of our daily lives, AsiaPay remains open for business and operate as usual. The usual uninterrupted service support to our valued clients as well as the safety and well-being of the entire AsiaPay team continue to be at the core of our response efforts. Since January, we have been implementing extensive precaution procedures on crisis management including BCP, work-from-home rosters, and staff quarantine procedures…etc, across 15 operations in Asia.
Our commitment to providing secure, reliable digital payment processing, quality local client service as well as our 24/7 technical support remains unchanged and is in force. Our regional COVID taskforce continues to communicate and monitor closely the latest development of the virus and related government policy in each country and will apply necessary measures timely.
As most companies in the market have been largely impacted by COVID, if we may borrow this 5 alphabets and phrase it being “Commit One Very Important Development” for your company and business. AsiaPay is confident to well serve and support our clients and trust all will end on a higher note after the pandemic is over.
We will continually embrace change and innovate capitalizing on the technological trends and strength especially addressing the coming evolution of digital commerce, IoT, mobility, adoption of AI, payment data analytics, and blockchain technologies.
For more information, kindly visit www.asiapay.com