Author: Alice Naing

Partnership between dtcpay and Sumsub enhances the security and reliability of digital currency transactions in target markets: Singapore, Hong Kong, Dubai, UK and Europe.

As part of the partnership, Sumsub’s eKnow Your Customer (KYC) solution will be integrated into dtcpay’s wallet platform to simplify the onboarding process for users transacting with businesses and merchants utilising the platform.

As a component of this collaboration, dtcpay is incorporating Sumsub’s verification platform into its current technology infrastructure, enabling customers to utilise a comprehensive onboarding solution.

Through the partnership, dtcpay will be able to offer a seamless onboarding process for customers looking to make multi-currency swaps (convert digital currencies or fiat assets without high conversion fees), online payments, in-store payments and PayByLink.

The integration will ensure quicker and more user-friendly experiences while guaranteeing adherence to regulatory standards. This partnership aims to empower businesses and merchants to scale and facilitate their integration into the larger digital currency ecosystem
by bolstering compliance and streamlining cross-border transactions and payments.

This collaboration occurs during rising cross-border payments within a dynamic digital currency landscape in dtcpay’s current market, Singapore.

According to research from RFIGlobal, one in five (20%) consumers in Asia hold cross-border banking products. In 2021, McKinsey revealed that Asia accounted for over 40% of more than US$200 billion of global cross-border payments revenues, forecasting the market to grow six to eight per cent annually by 2026.

As dtcpay continues to expand its payment services into diverse markets, the partnership with Sumsub is crucial in facilitating the company’s growth by ensuring compliance with KYC standards across different countries, each with unique regulatory frameworks.

says Penny Chai, vice president of business development in APAC.

adds Alice Liu, chief executive officer at dtcpay.

Link to article – https://cfotech.asia/story/sumsub-partners-dtcpay-to-secure-digital-currency-payments

Penny Chai, VP of business development APAC at Sumsub, commented:

Alice Liu, CEO of dtcpay, stated on the collaboration:

Link to article – https://www.finextra.com/newsarticle/42985/sumsub-teams-up-with-dtcpay-to-streamline-digital-currency-payments

dtcpay, a Singapore-based payment processor catering to both fiat and cryptocurrencies, has set its sights on expanding into Hong Kong by the end of this year. The company also has plans to establish an office in Dubai, another prominent crypto hub, by 2024.

In an interview with Tech in Asia, Kanny Lee, the group CEO of dtcpay, expressed optimism about the North Asia market, citing clear regulations and rules for digital assets and the recent opening up to retail participants. Lee believes that the region holds significant potential for growth over the course of the coming years.

dtcpay generates revenue through crypto conversion rates on transactions and has already acquired approximately 12 merchants. The company aims to onboard up to 100 merchants by the end of 2023. Since the beginning of this year, the firm has experienced a fourfold increase in transaction volume.

Lee acknowledged that most consumers view tokens primarily as investments. Dtcpay’s objective is to unify various payment methods across different countries, including Indonesia, Malaysia, India, Vietnam, and Singapore, providing a seamless experience for both merchants and consumers.

As an example, dtcpay enables users to purchase cars using cryptocurrencies, significantly reducing transaction fees from approximately 4% to just 0.5% compared to cash payments. Notable partnerships in Singapore include Cars and Coffee and DM Autohaus.

In June, dtcpay secured a pre-series A funding round, raising $16.5 million from Kwee Liong Tek. Tek, the chairperson of the Pontiac Land Group, which owns renowned hotels such as the Ritz-Carlton and Conrad Hotels in Singapore, has enabled dtcpay to target the hospitality sector. At the time Lee said that there are an increasing number of businesses expressing interest in collaborating with regulated entities in the digital assets space and combined with an increase in the adoption of digital payments, that’s turbocharging dtcpay’s business.

That focus on digital payments led to the company rebranding back in April from Digital Treasures Center to dtcpay. It appears that Hong Kong was already on the company’s radar back then as Lee stated at the time that “in Asia, particularly the key tier 1 financial capitals such as Singapore, Hong Kong and Tokyo, [they] have experienced a rapid rate of digital adoption primarily due to transparent regulatory frameworks for digital financial inclusion.”

Additionally, dtcpay obtained a major payment institution license from the Monetary Authority of Singapore (MAS) in August 2022. The company plans to launch a debit card in Q4 2023. That product will allow cardholders to convert their cryptocurrencies into multiple currencies without incurring foreign exchange fees.

The company was co-founded in 2019 by Sam Lin, Band Zhao, and Alice Liu, with Lee joining the company earlier this year with a view towards expanding its area of operations beyond Singapore.

With its expansion plans into Hong Kong and its focus on innovation, dtcpay is certainly aiming to establish itself as a leading player in the crypto payment services industry, catering to the evolving needs of merchants and consumers alike.

Link to article – https://coinness.com/en/news/1909

Offer various payment options to your customers through their POS+ and online payment solutions.

• Get that $$$. Your customers can pay using Visa, Mastercard, WeChat Pay, and major cryptocurrencies like Ethereum.
• They’re flexible! Accept digital payments from mobile phones, contactless cards, mobile wallets, and more. And get your very own QR payment code.

Your data is safe. They’re a PCI-DDS Level 1 provider. (That’s the highest level of compliance for credit card merchants).

Swap your fiat currency (like SGD, USD, and most national currencies) to crypto and vice-versa, without expensive fees.

• They can swap your USDT, USDC, Bitcoin, or Ethereum for your chosen fiat currency. You can even convert from crypto to crypto!

Government-regulated. They’re licensed by the Monetary Authority of Singapore.

They’ll work on product development, explore cross-border payments, and begin serving web3 businesses.

• They’ll also set up offices in Hong Kong and Dubai.

FX168財經報社(香港)訊 加密貨幣支付提供商Digital Treasures Center持有新加坡金融管理局(MAS)的MPI牌照週四(4月13日)宣佈，正式更名爲DtcPay，已將業務擴展到香港市場，並已爲商戶接入微信支付，爲中國公民提供更便捷的結算，未來也將推出更多的法定貨幣和加密貨幣交易對。

自2019年以來，DtcPay的使命是彌合數字資產與傳統金融之間的差距，並通過接受客戶喜歡的法定和加密貨幣支付方式幫助企業快速發展。隨着品牌重塑，DtcPay最近任命Kanny Lee爲集團首席執行官，他是Web3華人社區的意見領袖。

DtcPay於2019年在新加坡成立，是新加坡MPI持牌主要支付機構，提供數字支付令牌(DPT)服務。該公司通過在美洲、香港和中東的受監管子公司擴大全球足跡。

Kanny表示：「在亞洲，尤其是主要的一級金融中心，如新加坡、香港和東京，由於數字金融包容性的透明監管框架，數字化採用速度很快。我們正在將業務擴展到香港，利用該地區對數字支付的日益接受及其作爲進入全球最大消費市場的入口的主要焦點。」

「我們的目標達成，通過最近成功獲得的新加坡金融管理局的MPI牌照後，也同樣在香港獲得牌照。這一成就證明，亞洲爲全球數字支付提供了最清晰的監管，」他補充。

作爲受新加坡官方監管並獲得全面許可的支付服務提供商，DtcPay的擴張路線圖包括爲多貨幣互換產品推出更多法定貨幣和數字貨幣配對，這是使商家及其客戶能夠無縫且經濟高效地進行價值轉移的支柱。

這些商戶中的每一個都使用DtcPay POS+，作爲一種接受各種形式的數字支付的一體化設備：信用卡、QR碼支付、數字貨幣等。通過簡化商戶的支付流程，它可以節省時間和精力面對消費者青睞的大量支付方式和渠道。

據吳說區塊鏈(Wu Blockchain)消息：「DtcPay在2023年第一季內處理超過5000萬新元的交易。」

爲了進一步提高商家的結算效率，DtcPay推出一項名爲eSGD的電子貨幣試點計劃。該計劃旨在爲商家及其客戶提供安全便捷的支付選項，從而帶來更簡單、更流暢的支付體驗。隨着對無現金交易的需求持續增長，電子貨幣正成爲支付領域的重要組成部分。DtcPay旨在通過提供高效可靠的數字支付解決方案，來幫助商家發展業務。

2023年4月2日起，DtcPay已爲商戶接入微信支付，爲中國公民提供更便捷的結算。此次合作正值新加坡對微信支付的需求不斷增長之際。此前，DtcPay已在中國開放邊境後，讓中國遊客和居住在新加坡的中國公民，更容易享受這種支付方式的便利。

另外，香港衆安銀行(ZA Bank)首席執行官姚文鬆(Ronald Iu)受訪表示，已經獲得許可通過持牌交易所，提供加密貨幣到法定貨幣的兌換服務。該行將作爲客戶的結算銀行，允許他們在交易所存入加密代幣後，以人民幣、美元和港元取款。

延伸閱讀：突發重磅！香港允許衆安銀行「提供加密兌換服務」 可通過人民幣、美元和港元取款

隨着DtcPay獲得新加坡MPI牌照，公司迎來快速發展的支付領域的新篇章，並更名爲數字支付生態系統中更具創新性和包容性的品牌，並保持領先的技術，並通過爲數字支付行業提供安全、合法合規的解決方案，確保DtcPay在受監管的環境中運營。

通過更名，DtcPay迎來快速發展的支付行業的新篇章，同時保持了技術領先優勢，並確保了我們網絡中客戶的安全性和合規性。#NFT與加密貨幣#

Link to article – https://hk.investing.com/news/economic-indicators/article-319295

Link to article – https://tokeninsight.com/en/news/digital-payment-company-dtcpay-to-expand-to-hong-kong-and-integrate-with-wechat-pay