The company SMKG highlights its Digital Portfolio of Fintech and Paytech Marketplaces and Applications. The company’s expansion in to India, Philippines, Singapore, China, Brazil and Mexico notably offer a robust channel of opportunities to deliver Digital Commerce Strategies for local and Cross-border business. Also to mention recent ongoing development for Africa underway with clients in the Money Remittance services.
The company other than white-label and usage fees has multiple opportunity entry points for additional revenues from these following sources:
- FX trades desk automation
- MDR %, the interchange fees on ticket $ size purchases of charges
- Transaction fees on usage of services in the platform, marketplaces, mobile wallet and e-commerce wallet.
- Account activations for b2b, b2c, c2b and p2p
- Monthly plans on accounts maintenance
- Digital-ID issuances and performing E-KYC, E-KYB and AML processes for verification.
- Blockchain Protocols and Smart Contracts
- Chatbot AI subscription and Task Automation processing
- Push2Card and RTP transfer requests
Massimo stated that, “SMKG’s offering creates a truly disruptive capability of delivering an end-to-end suite of digital commerce solutions with the ability to deliver a cross-border payments network, but also a payments technology Mobility and E-Commerce gateway architecture for FI’s and Enterprise Acquirers & Issuers from one house. It is the combination of Baas (banking as a services) meets or rather combines with Paas (payments as a service). We have the ability to be more for our clients so they can truly transform their customers experience.”
Industry Related News
With a high level of digital payment penetration, Southeast Asia has become an alluring area of expansion for international corporations as nearly 90% of the population use digital wallets or other forms of electronic payment, according to a recent study. The region also experiences a 40% annual surge in the total value of eCommerce, and nontraditional banking is growing quickly, with some countries having a 75% smartphone usage rate despite only half the population possessing bank accounts.
PYMNTS examines the unique challenges and opportunities for new entrants into four promising high-growth markets: India, Indonesia, Singapore and Thailand.
Cross-border payments complicate India’s rewards
India's eCommerce market grew rapidly in 2021, generating over $67 billion in annual online sales, with a high adoption rate of mobile wallets and internet connectivity among consumers. Foreign companies like Amazon and eBay have established a significant presence in India, allowing local merchants to sell domestically and internationally. However, merchants must be aware that cross-border payments are new and largely unregulated in India, and while foreign companies can operate B2B eCommerce marketplaces, they cannot distribute inventory or influence product prices, which can limit profitability due to cross-border fees.
Indonesia’s geography poses obstacles
Indonesia's eCommerce market grew by 24% in 2022, making it an appealing destination for foreign companies. However, the country's geography as a vast archipelago presents significant obstacles that raise shipping costs and reduce profitability, while its heavy reliance on cash-based transactions limits the potential for cross-border payments.
Singapore offers a jumping-off point into Southeast Asia
Singapore's strategic location, digital integration, and tech giants like Carousell, Grab, and Shoppee make it an ideal launchpad for foreign companies, and its centralized real-time payment system, PayNow, is expected to process 392 million payments by 2025; furthermore, most products enter the country duty-free, and its low Goods and Services Tax makes it easy for foreign merchants to enter this high-growth market.
Thailand beckons as the regional leader in digital payments
Thailand recorded 9.7 billion real-time transactions in 2021, indicating a strong adoption of digital payments that could benefit foreign companies, but cross-border payments are challenging due to varying regulations with neighboring countries, and a unified system is yet to be established.
Local payment options critical for success
Offering local payment options is crucial for companies doing business in the Asia-Pacific region, as 41% of merchants who don't offer them lose 60% or more of their sales to cart abandonment, according to a PYMNTS study. Local payment methods also generate 15% more cross-border sales from the region. While cross-border payments remain a challenge, providing local payment options can help prevent revenue loss.
About SmartCard Marketing Systems Inc.
SmartCard Marketing Systems Inc (OTCQB: SMKG) is an industry leader in specialized industry e-Commerce, Cloud and Mobility applications delivering White-Label solutions to the global PayTech and FinTech markets. SMKG is a boutique technology company, providing Business Intelligence and Digital Transformation Strategies with a proprietary portfolio of applications and wireframes for Banking, Enterprises and Retail e-Wallets offering Blockchain Protocols, Crypto Issuing, NFT Minting, Tokenization, Digital ID-eKYC, Chatbot Ai, Digital Automation Strategies with “License to Own” marketplace applications.
For more info visit www.smartcardmarketingsystems.com
or visit our business applications marketplace at www.emphasispay.com
We seek a safe harbor.
For additional enquiries & Enterprise Program connect with:
Dharmesh Vora
President Enterprise Solutions
SmartCard Marketing Systems Inc.
dvora@smartcardmarketingsystems.com
CEO, Massimo Barone
mbarone@smartcardmarketingsystems.com
SmartCard Marketing Systems Inc.
OTC:SMKG Ph: 1-844-843-7296
news@smartcardmarketingsystems.com