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Ezypay, a cloud-based subscription payment platform headquartered in Sydney, Australia, recently expanded into South Korea and continues its expansion into the surrounding APAC market.
This will allow merchants to more easily manage their customers’ recurring payments, and will also allow software developers to integrate the platform and its subscription management tools into their existing software.
The Ezypay platform has been praised for its “global functionality”, supporting features such as subscription plan management, analytics, customer sign-up process, and further management of invoices and failed payments.
The company has proven its popularity in the Asia-Pacific region and its current operations are Malaysia, Singapore, Philippines, Thailand, Taiwan, Hong Kong.
Ezypay maintains a non-exclusive focus on serving the health and fitness, education, and real estate industries while underserving the fast-growing payment market in newly discovered territories. entering the area.
Like many of its neighbors, South Korea continues to develop its digital economy through the application of payment technology within e-commerce.
Currently, this segment of the South Korean market is worth $34.5 billion. Mobile commerce accounts for about 60% of this figure, underpinned by 96% internet penetration and 79% mobile penetration.
Given the popularity of mobile shopping and mobile phones in general, payment providers operating in this country are strongly encouraged to accept payments using mobile devices. This includes the emergence of alternative payment options such as mobile wallets and digital assets.
However, innovative payment options emerging from South Korea have proven inadequate in the face of the covid-19 pandemic. This is when many retailers have been forced to rethink how they engage with customers and transact services.
This need has given way to an increase in recurring and subscription-based payment models that seek to retain both customer interest and cash. For example, Shinsegae Department Store Gangnam, Seoul launched a fruit and bread subscription service in the midst of the pandemic. to great success.
Part of this success is due to the discounted pricing generated by the subscription model, followed, of course, by a wide variety of shops and services.
South Korea is by no means a “world leader” in subscription payments, but as Ezypay recognizes, a model launched in the darkness of the pandemic has grown into a major pillar of South Korea’s digital economy. increase.
Like other markets we are in, Ezypay CEO said: james foster.
This includes improving customer satisfaction, reducing customer churn, improving cash flow and offsetting risk. Comes with prepaid or one-time payment strategies.
Launched subscription payment service in South Korea This is another big milestone in the continued growth of our business, adds Foster.
as a registered local The entity, Ezypay, has worked to ensure the merchant’s customers in compliance with security and other regulations. Relevant local payment options are provided and are not subject to cross-border fees.
get local Acquisition highlights ongoing efforts to improve overall customer experience and grow collection Fees for merchants in Korea.
Ezypay has supported the health and fitness industry since its inception. Hapanais an industry-specific end-to-end software solution as the first integrated partner to serve the Korean market.
Expanding into South Korea has been an exciting journey for Hapana, said the company’s CEO. Jaron Aizen.
By being able to provide our customers with end-to-end software solutions, Their solution for growth is exactly what Hapana wants to continue doing across APAC and globally.
By partnering with Ezypay, we will be able to offer a billing platform alongside our software. Fitness brands and owners rely on security, reliability and operational depth to focus their time What really matters is growing your business.
Ezypay expands to South Korea and through its partnership with Hapana, offers the market the opportunity to easily collect payments.
Mr Foster said: We continue to shape and guide the direction of subscription payments in Australia and Asia Pacific and are grateful to work with a strong partner like Hapana. “
