The payments industry has been evolving rapidly, especially in the last few years with a growing shit to the digital market.
Consumers these days, can make a variety of financial transactions such as easily moving money across accounts to purchasing practically any good or service, all at the convenience of their fingertips.
This means that the number of frauds taking place would also go higher. Mobile wallets and the increased importance of card security to reduce fraud are some of the major trends that are shaping the future of payments processing. AWEpay is one such company that knows about the continuous need of security in payments more than any one.
In 2011, the company ventured in the market to bring customers the flexibility they need to pursue new payments-enabling technologies in an ever-changing regulatory landscape. AWEpay has dedicated its efforts to build a robust payments infrastructure for customers based on a trust-based system where security plays the most important role.
But when it comes to online payments, tremendous amounts of electronic data and digital currency low through the payment ecosystem as billions of transactions are processed each year. With its years of experience and partnerships in the payment space, AWEpay is able to mitigate these risks related to cybersecurity and data privacy requirements across the full payments and banking value chain. KC Seow, Managing Director, AWEpay, says, “Our Company was formed to provide accountability and trust in an industry where many merchants were being ripped of by unscrupulous payment service providers.”
AWEpay works with multiple banks, financial institutes and other payment service providers to offer merchants turnkey solutions to accept payments to almost anywhere in the world. To ensure that business runs without much interference, AWEpay ensures that every payment solution goes through the essential security checks, such as vigorous due diligence and “Know Your Customer” process. Seow further adds, “If clients trust you, they will work with you. Trust takes many years to build and can be destroyed overnight, so it’s important to the company to always maintain the accountability to its clients.”Having ensured that AWEpay maintains the highest standards of quality, security and reliability in payment processes, Seow has envisioned a new set of goals for AWEpay – to be the payment partner of choice for the APAC business community.
AWEpay leverages automation and technologies like API integration to design its soluion, which helps to provide a safe, stable and reliable solution to merchants and customers around the globe. The company’s payment system is certified with PCI DSS3.2 Level 1, which provides the baseline for technical and operational requirements designed to protect the cardholders’ credentials. Along with the certification, AWEpay’s payment system is re-engineered to keep the latest trends in the payment industry. The company also runs a quarterly server penetration tests and DDOS prevention to protect its server.
Shaping the Future of Cashless Payments
To be always the first choice of its customers and to stay a step ahead of the competition, AWEpay has built a strategic relationship with multiple banks, financial institutes, and other payment service providers. The company’s ability to provide a compliant and easy way to send and receive money with almost the same flexibility as cash and the security of a credit card is their competitive edge. In addition to the payment and security solutions that they provide; AWEpay aims to soar higher with another brand new service. The company has now come up with the idea of an E-Wallet, exclusively for the South East Asian region. The launch of this E-Wallet service will provide a smooth payment solution for the region.
“It is safe to say that in South East Asia, all of its central banks have a cashless society agenda, and it would be ideal for us to have an E-wallet solution that unites the countries in South East Asia, to perhaps one day achieve and even rival the capabilities and success of an E-wallet like WeChat in China” considers, K.C Seow, M.D. of AWEpay.
AWEpay’s AweWallet envisions providing a payment system that integrates all of the regions payment and bank systems to have a unified E-wallet for South East Asia providing a cheap, fast and convenient system to pay and get paid.
Therefore, in a rapidly evolving world, security and trust are the need of the hour. AWEpay takes pride in providing an expert security blanket and commits to continue to improve and being a leading online payment service provider. They are here to stay and extend their hands to everybody today, tomorrow and for the future.
QUOTES:
“AWEpay has dedicated its efforts to build a robust payments infrastructure for customers based on a trust-based system where security plays the most important role”
“AWEpay was formed to provide accountability and trust in an industry where many merchants were being ripped o by unscrupulous payment service providers”