PAYERMAX, a global payment solution provider, said it plans to boost its growth across Southeast Asia (SEA), with a key focus on the Philippines.
The company intends to employ “more resources and manpower while Singapore acts as its strategic foothold,” PayerMax said in an e-mailed statement on Tuesday.
Locally, PayerMaxt supports its customers through local payment methods like GCash, TrueMoney, and DragonPay. The company describes itself as a digital payment solution provider “with over 350 payment methods over five continents.” It services online merchants that have ambition beyond borders.
PayerMax said it expects the digital payments landscape in the region to reach $1.5 trillion by 2030.
The shift toward cashless, contactless, and cross-border payments is expected to accelerate.
Online payment is “now the new norm, and players need to recognize this as an opportunity,” said Vicky Gannason, regional director at PayerMax.
“Our key focus in the long horizon is … to build PayerMax’s presence in emerging markets, and we are excited about the growth prospects in a region that is witnessing huge digital payments boom in the years to come,” said Essay Zhu, PayerMax chief operating officer.
The company will “leverage on its private and public sector partnerships in the region to drive and fuel the payment infrastructure of e-commerce, gaming and entertainment while working hand-in-hand with regulatory ecosystems.”
PayerMax is headquartered in Singapore with regional head offices and presence in the Philippines, Malaysia, Indonesia, Vietnam, Thailand, United Arab Emirates, Kingdom of Saudi Arabia, Brazil, and Shanghai. — Arjay L. Balinbin