Growth on The Cards: 2C2P Revving Up Revenue for 2023

Aiming to enable offline small and medium-sized enterprises (SMEs) to accept e-wallet payments from Chinese visitors, 2C2P (Thailand) has been expanding its merchant partnerships under Alibaba’s Ant Group. The global payment platform predicts a substantial rise in revenue, from 3.2 billion baht last year to a projected 3.7-3.9 billion by 2024, representing a growth of 30% over 2022.

Piyachart Ratanaprasartporn, the chief executive of 2C2P (Thailand), credits the company’s growth to its payment gateway solution, which contributes to 60% of total revenue. This increase in revenue coincides with the revival of the tourism industry, the consistent rise of e-commerce, and the government’s e-receipt initiative to boost consumer expenditure.

The acquisition of a significant stake in 2C2P by the Ant Group, a company supported by Alibaba, China’s e-commerce titan, in April 2022, has…