Jun.09.2022, Singapore ------ Citcon Inc., the one stop gateway to the world’s fastest growing payment options that enables cross-border and in-market commerce to scale, announced the organization’s latest expansion efforts in Asia Pacific, following the global footprint to encompass South Korea and Japan. With a successful Series C fundraise in October 2021, this global payments provider has expanded its portfolio of local wallets and alternative payment schemes to more than 200 and added in-market senior leadership and support staff to bolster its market presence throughout the Asia Pacific region.
With its expanded in-market presence, Citcon is rapidly expanding digital wallet and local payment scheme integration throughout Asia Pacific, recently adding more than 50 popular local wallet solutions to better serve consumers in South Korea, Japan, Australia, New Zealand, the Philippines, Singapore, and Malaysia. Citcon has also expanded its integration with AliPay, WeChatPay, PayPal, and Klarna which have emerged as leading payment platforms serving global markets. Today, Citcon’s single API solution enables merchants to access more than 200 payment methods through a single integrated payment, reconciliation, and settlement solution.
To manage its on-the-ground presence, Citcon has expanded its in-market leadership team in key locations, including Japan, Australia, Singapore and Hong Kong. Citcon recently welcomed Andrew Meimes, VP, Head of APAC, Ian Zhang, General Manager for Australia, New Zealand and Hong Kong and Siddharth Sahi, Director of APAC Payment Partnerships based in Singapore.
Alternative payment solutions like software based wallets, pioneered in China and now rapidly growing throughout Asia, offer many advantages over traditional credit cards and card-based wallets popular in the United States and other western countries. With software based mobile wallets, payments are heavily encrypted and tokenized, insulating card and account numbers. Wallet purchases can therefore be verified instantly, with very little risk of fraud or chargebacks.
Founded in 2015, Citcon’s fintech and payment platform enables seamless global commerce at scale by connecting the world’s businesses with 200+ mobile wallets, as well as local and alternative payment methods. Citcon integrates with POS and ecommerce systems such as Toshiba, Oracle, Cegid, Shopify and SAP and is currently deployed at more than 30,000 merchants’ sites and locations, including major brands such as L’Oreal, Tumi, Texas Instruments, Revolve, Macy’s, and Panda Express. In October 2021, Citcon closed a $30MM Series C funding round. The company is backed by leading global investors Norwest Venture Partners, Cota Capital, Sierra Ventures, Sonae, and East-West Bank. Citcon has five regional offices in the US, Canada, Europe, and Asia to service its global clientele.