Payment processing giants have been working hard around the world to better acclimate to the rapidly changing economic landscape in front of them. The transition from conventional cash transactions to a relatively cashless society has led the financial technology sector to make significant changes, leading to consumer innovation and improvements.
Nowhere have we seen more impressive changes to the fintech industry than in Asi, where major companies like Paytm, Mobikwik, Alipay, and PortOne Global are all rendering considerable changes to the industry.
Let’s embrace the fintech revolution by closely examining the names and faces responsible for its forward movement. We’ll pay particular attention to Asia’s rapidly growing and evolving marketplace.
Asia’s market is vast and sprawling,g with several companies seeking to serve it better. Paytm is based out of Indi, where it has operated since 2009. Paytm is a wireless and cashless payment processor for money transfers, bill payments, and online bookings.
PayTM is utilized by over 20 million businesses and 300+ million Indian citizens. A noble goal of the PayTM system is to connect with half a billion underserved and unserved Indians as they seek to integrate into the mainstream economy. Paytm continues to update and upgrade its services to this day.
Another prominent payment provider in India, Mobikwi,k provides its users access to a convenient mobile wallet to store cash or make transactions and payments. Mobikwik was also established in 2009 to meet the needs of a rapidly growing base of consumers. At this time, more than 3 million retail partners work with Mobikwik to serve over 100 million consumers.
Daniel Shin & PortOne Global
Leading the technological charge for a long time has been the work of CEO and entrepreneur Daniel Shin. Shin is the founder of Ticket Monster as well as one of the most innovative entrepreneurs in the region.
Shin founded PortOne Global to make it easier for consumers to acquire the goods and services they seek. PortOne Global offers convenient access to a hardy API with more than 100 payment methods. PortOne Global is famous thanks to its rugged system and ease of use.
At the time of this writing, over 2,500 global merchants are utilizing PortOne to connect with the countless clients vying for their services.
AliPay Sets the Tone
The final payment processing giant we want to tout is AliPay, founded by the Ant Group in 2004 and figurehead Jack Ma. AliPay reaches more than 1.2 billion users around the globe to more than 80 million businesses. AliPay is wildly popular with locals and travelers as it can be used to make payments, book transportation, and acquire other goods and services.
AliPay works with Visa and Mastercard to ensure consumer confidence no matter where they are in the world or what they hope for.