Central Group to check out with 2C2P

online payments2C2P, a leading Southeast Asian payment services provider, has implemented a suite of e-payment solutions for The Central Group of Companies (Central Group). Central ‎Group is Thailand’s largest retailer, with over 66,000 employees and US$7.4 billion in assets. Singapore-headquartered 2C2P will ‎provide online payment solutions for five core retail brands – B2S, Central, OfficeMate, Robinson and ‎SuperSports.‎

Central Group is placing a growing emphasis on online retail, aiming to boost website sales to US$10 million (THB 300 million) in FY2014. Thai shoppers can now benefit from additional payment choices, including the option to pay using ‘123 Payments’ and through wider card and bank acceptance through 2C2P’s partner network. Other benefits include quicker transaction processing times, enhanced security against transaction fraud, and for the first time, installment payment plans (IPP), offered by leading partner banks.

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(3rd from left) Mr. Worawoot Ounjai, Chief Executive Officer at OfficeMate, under Central Group and (3rd from right) Mr. Piyachart Ratanaprasartporn, CEO at 2C2P (Thailand) Co. Ltd.

“Central Group, and by extension, OfficeMate, sees a big opportunity in the growth of the Asean Economic Community (AEC).  Specific to OfficeMate, we foresee our office supplies and stationery business growing rapidly,” said Worawoot Ounjai, Chief Executive Officer at OfficeMate, a retail chain under Central Group, “We project our revenues to reach 70 billion baht (US$2.17 billion) this year, a 10% increase from FY2013. Our online retail will be an important part of this overall mix. We can now accept online transactions from a wider list of leading banks and card companies, and we can do so with 2C2P’s seal of safety.”

The opportunity for Thai online payments growth is immense. According UBS research, from the US$94.4 billion total domestic retail market, e-commerce has a potential of US$4.7 billion. Nielsen research has highlighted that 55% of shoppers in Thailand felt comfortable shopping online with their payment card details stored on smart devices. This was amongst the highest in Southeast Asia, ahead of Vietnam (46%), Malaysia (45%), Singapore (49%), Indonesia (50%), behind only the Philippines (57%). By supporting financial institutions, e-commerce and m-commerce merchants and consumers, 2C2P say they are ‘poised to play a leading role to support this growth’.

“We are really pleased to be supporting Central Group’s retail chains with our services. We are confident in our ability to enable regional e-commerce growth with our strong transactional infrastructures,” commented Piyachart Ratanaprasartporn, CEO of 2C2P (Thailand) Co. Ltd.

2C2P offers partner merchants more payment options, such as credit cards, debit cards, cash via payment counters, bank channels, ATM and Internet banking, all of which are pivotal to quick and convenient transacting. 2C2P’s 3D Secure authentication technology is widely implemented by card issuing banks, processing over 85% of authentications in Thailand using our systems. The company has attained PCIDSS Level 1 compliance, the highest current payment security standard, and is able to detect threats with real-time fraud control tools, conducive to a safer online shopping experience. In addition, 2C2P can store card information securely under PCIDSS compliance allowing customers to shop more convenience and confidently.

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Categories: Online Payments

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