Plug and Play, the world's largest global innovation platform, and AsiaPay, the regional leading digital payment service and solution provider, have announced a new partnership to help AsiaPay work closer with innovative startups through Plug and Play's Singapore Fintech program. The primary focus will be startups with pioneering and innovative solutions to enhance the quality of the financial services and e-Commerce industries.
Being the first Fintech company based in Hong Kong, joining hand with Plug and Play, AsiaPay envisages adapting the global avant-garde in Asian context. Through this new partnership in Singapore, AsiaPay seeks to specifically pilot innovation projects throughout their Southeast Asia businesses. AsiaPay joins Plug and Play for their fourth batch of the Fintech accelerator program, which together with their Insurtech program will is currently accelerating 23 startups from across the world in a three-month program which started last week.
"We are proud to partner with Plug & Play on digital commerce innovation," said Joseph Chan, CEO of AsiaPay. "To allow us to learn from and strengthen our engagement with innovative startups in the region, and to grow and synergize together. It further scales up our ecosystem that we aim to build in digital commerce and payment space in Asia. We look forward to growing our presence in innovation space in Asia and bring innovative services and solutions to our bank and merchant clients, by leveraging on the global innovative knowhow and applying them in regional and local applications."
Starting from late 2019, AsiaPay announced its pilot venture program which aims at incubating startups to accelerate regionally with their innovative solutions offerings.
AsiaPay is a premier digital payment gateway company, currently operating in over 15 countries in APAC and Europe. Our partnership will provide them with global visibility into the most innovative startups who are transforming digital payment processing solutions and services in banks and financial institutions, says Shawn Dehpanah, EVP and Head of Corporate Innovation at Plug and Play Asia Pacific.
Plug and Play now works with thirteen corporations in their Fintech and Insurtech programs, including MSIG, Tokio Marine, Willis Towers Watson, Astra Financial, Cathay Financial, Krung Thai Bank, Aon, and Swiss Re. Plug and Play Singapore serves as the regional hub for Plug and Play's innovation platform and investment arm in Southeast Asia. They currently run five accelerator programs focused on Insurtech, Fintech, Travel, Sustainability, with future plans to launch a regional Health platform.
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