Home News Startups, Entrepreneurs, Digital economy

Stung by one-baht payment for first project done, Aung's 2C2P works to unite Southeast Asia payments

Jovi Ho
Jovi Ho7/9/2021 12:00 PM GMT+08  • 8 min read
Stung by one-baht payment for first project done, Aung's 2C2P works to unite Southeast Asia payments
Aung Kyaw Moe, founder of payments platform 2C2P, tells the story of a reluctant entrepreneur.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Hit “checkout” when purchasing online and your phone pings with an SMS confirming your credit card expense. This simple yet secure mode of authentication has remained in use for more than a decade — a testament to its efficacy.

However, this crucial technology was licensed to a bank for the nominal sum of THB1.00 (4.2 cents), according to its developer, Aung Kyaw Moe, who also founded payments platform 2C2P.

In 2003, after he quit from a mobile games company in Bangkok, a contact from a Thai bank reached out and asked if he could develop software to authenticate cardholders, as the bank was already considering forking out a sum for a licence from a foreign company.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now