The Future of Payments; Digital & On-Demand

Kyle Baron
Nov 20, 2019 · 4 min read

BCW Group: The Digital Payments Strategy Specialists

At BCW Group, we spend a considerable amount of time educating and working with Fortune 500 executives as well as innovators at startups in the Fintech space putting together the pieces to answer the most important question in our nascent industry: What comes next?

What is in Store for 2020 and Beyond?

The digital payments transformation happening across South East Asia is staggering and will continue to proliferate over the next 4+ years. The digital transformation is powered by three important trends:

  • Non-cash transaction growth
  • Consumer spending growth
  • Use of mobile wallets

Break-neck movement is underway with household names across the region moving into new markets to capture mobile users interested in faster & simpler digital payment methods; Alipay, Wechat Pay, KakaoPay, GrabPay, Go-Pay (Go-Jek), LinePay. New entrants to the market, offering seamless, cheap & flexible digital micropayments capabilities (utilising distributed ledger technologies (DLT)) are beginning to make waves in the region with: Kakao Klaytn mainnet live (June 2019), Hedera Hashgraph mainnet live (August 2019), and Line Link (August 2019). Disruption will come from initial use cases around remittance, user generated digital content & gaming.

As unbanked populations leapfrog legacy infrastructure to digital micro-services, payment technologies powered in the palm of everyone’s hand will allow for new businesses to emerge and create immense value capture in areas such as the digital remittance space. Cash will be replaced by e-wallet adoption across APAC (decrease of cash-based purchases in APAC ranging from 30% in 2018 to 14% by 2022, while a direct correlation of growth in digital purchasing via e-wallets from 27% in 2018 to 42% by 2022).

BCW Group Outlook Asia Market Intelligence & Insights Report. research@bcw.group to learn more

Notable Initiatives

At BCW Group, we work exclusively with mature organisations and startups by combining traditional payments technologies with innovative (new) business models that will revolutionise the digital economy.

BCW Payments represents Fortune 100 payments providers in the digital assets space; integrating state-of-the-art payment infrastructure into digital asset exchanges, e-wallets & platforms to create a seamless environment for traditional payment methods to bring mass adoption into the digital space.

HK Blockchain Week: Panel Moderation for ‘Disruption in Payments — Bridging the Gap Between Crypto & Cash’ Dwight van Diem — BCW Group Managing Partner

In Q4 2019, BCW Payments was selected as the Global Digital Payments Consulting partner for Klaytn; Kakao Group’s Layer 1 distributed ledger technology platform. Kakao Klaytn is primed to make its mark in the blockchain space as their existing user base of 50mn+ daily active users across their super application (KakaoTalk, Kakao Pay, Kakao Taxi, Kakao Bank, Kakao Games & music streaming and content apps) will soon enjoy the transformative power of the Klaytn digital wallet (Klip) that has been integrated into the new Samsung Galaxy Note 10 — branded as Klaytn Phone. Klip will connect across Kakao Messenger, Kakao Pay, Kakao Taxi, Kakao Bank, Kakao Games & music streaming and content services. BCW Group has been tasked with devising the APAC focused digital payments growth strategy for Klaytn and providing globally reputable infrastructure partners to make the Klaytn vision the industry standard.

BCW Group is a Klaytn Partner focused on the network’s Global Digital Payments Strategy

BCW Payments is an integrated partner of PrimeTrust, a U.S. based regulated Trust company. PrimeTrust offers the digital assets industry 3rd party custody services for a mix of asset classes, automated fintech services (escrow, KYC/AML, blockchain based cap-tables), liquidity provisions across the network & fiat onramps utilising credit/debit, wire & ACH deposits.

In Q3 2019, together, we launched the PrimePay offering to the digital assets market. Notable clients such as Binance US have taken advantage of the ability for a ‘plug & pay,’ 1-time, full service stack API integration powering credit/debit card rails (most competitive rates in the market) with the full suite of PrimeTrust automated fintech services.

PrimeTrust’s PrimePay Fully Integrated Payments Solution

About BCW Group

We are a strategy consulting firm focused on designing and executing growth strategies for both distributed ledger technologies and digital payments initiatives. Our unique footprint cuts across both geographical and industrial plains as our core team sits across Asia — fastest growing market for both digital assets & digital payments — and is adept to implement a culmination of traditional and emerging technology provisions to build the infrastructure necessary for the digital economy.

BCW Group is comprised of a team of highly-skilled professionals with various industry specialisations across investment banking, payments, IT consulting & management consulting. We are dedicated to creating a world of frictionless payments across asset classes; bringing real-life use cases to emerging technologies such as DLT.

Reach out to us to see how we can transform your digital payments business consulting@bcw.group.

If you’re interested in learning about the research we do at BCW Group and how we can build insights for your business, please contact research@bcw.group.

BCW Group

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