STICPAY, a global e-wallet service provider and payment gateway, announces new partnerships with more than 20 Asian local payment providers in a move that makes global payments for Asia’s developing market communities more accessible, integrated, and cost-effective.
Across China, India, Hong Kong, the Philippines, Singapore, Indonesia, Vietnam, Thailand and Malaysia, STICPAY has integrated “a wide range of both traditional and challenger local payment methods. These include Alipay and Wechatpay (China and Hong Kong), GCash (Philippines), PayNow (Singapore), QRIS (Indonesia), MonoPay (Vietnam), PromptPay (Thailand), UPI (India) and TNG Wallet (Malaysia), as well as bank transfer and mobile payment, plus many others.”
The strategic move means that “a broader segment of the Asian population can now benefit from e-wallet services, thanks to the integration between STICPAY and established local payment providers.”
The integrations also mean that local users in Asia – “both individual and businesses – can use tailored, local payment options that are familiar and convenient to them, in turn enabling them to manage their finances, pay bills and undertake everyday transactions more easily.”
The partnerships will also aim to “make transitions fare more cost effective, with local payments considerably reducing or eliminating transaction fees compared to international transactions.”
In addition to the Asian partnerships, STICPAY has also “launched new partnerships with local payment providers in Australia (PayID) and Colombia (Nequi) as it looks to expand its partnerships with local payment providers around the world.”
According to research from Juniper, “more than 60% of the world’s population will use digital wallets by 2026, with emerging markets driving much of this uptake. Indonesia, for example, is forecast to have 202 million mobile wallet users by 2025, with digital wallets helping boost growth in emerging market economics where banking infrastructure is often outdated, inaccessible and poorly distributed.”
Sean Park, STICPAY CEO, said:
“STICPAY’s introduction of new local payment methods marks a significant stride towards creating a global financial ecosystem that understands and respects users’ unique needs in various countries. By prioritizing convenience, trust, and cost-effectiveness, STICPAY is not just offering a service; it’s fostering a financial experience tailored to the diverse preferences of its users. As we move forward, this innovative approach solidifies STICPAY’s commitment to being a leader in the digital finance realm, shaping the future of finance one region at a time.”
As noted in the update, STICPAY claims that it is “a leading global e-wallet and payment gateway that provides local and international payment methods to over one million users and 5,000 corporate clients across more than 200 countries.”
STICPAY enables users to “transfer dozens of fiat and cryptocurrencies through bank wire, credit card and local payment and crypto methods.”
For online merchants with global customers, STICPAY securely “facilitates international e-commerce marketplace transactions.”
For individuals, STICPAY says it provides “a fast, safe and cost-effective transfer service, including for those using non-major currencies.”
STICPAY also provided thousands of trusted partners “in the forex and online gaming sectors with cashback services, empowering them to provide cashback rewards to their clients.”
Founded in 2018, STICPAY is licensed “by the UK Financial Conduct Authority Labuan Financial Services Authority and the Mauritius Financial Services Commission.”