BPC, a payment services firm, announced that Tinkoff had selected its SaaS Cloud payment services to expand in the Philippines. The project is termed to be an extension of an existing partnership and is a testimony to BPC's proven technical expertise in the digital banking and payments landscape.
BPC's next-generation payment processing company Radar Payments will head and manage the end-to-end payment experience for Tinkoff customers in the Philippines as per the new agreement. The business extension includes physical and virtual card production, debit and credit card insurance and management, SmartVista ACS for 3DS secure services, and fraud prevention.
Furthermore, BPC will also support Tinkoff in cloud SaaS payment adoption in the Philippines. The support would provide greater flexibility in accessing banking services, cost savings, and security. Banks are stepping into novel payment processors aiming to focus on client relationships. For example, neobanks and fintechs bring new offerings to new markets faster than ever. They are doing it by using ready-to-connect payment rails around various geographies.
The Philippines is recorded as one of the fastest-growing markets in South East Asia. As a result, the Central Bank has been granting new banking licenses to improve financial accessibility and foster healthy competition.
About the news, George Chesakov, International Expansion Lead at Tinkoff, commented, "Tinkoff is thrilled about entering the Philippines market. We believe our technology and experience will help us build the right products, boosting financial inclusion in the country. With BPC's payment processing business, we have a partner with whom we have a long-standing relationship and align with our SaaS Cloud vision. Moreover, we value BPC's strong local knowledge of the Philippines' banking sector, which should help us start operating in this market faster."
We could not be any prouder to continue our journey serving Tinkoff and its future customers in Asia. Success depends on the speed of deployment of new services in the digital banking industry, especially in the Philippines market, which will welcome several new market players in 2022."
CEO at Radar Payments by BPC