Integrated Commerce, Multi-Currency Payment Processing, ERP and CRM Gives B2B and B2C Merchants Competitive Advantage in Asia
SINGAPORE — 16 October 2012—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced a partnership with AsiaPay, that integrates its PayDollar eCommerce payment gateway and merchant services with the NetSuite SuiteCommerce platform. With comprehensive support for major international credit cards, NetSuite's SuiteCommerce customers can benefit from AsiaPay's extensive reach throughout Asia, leveraging over 40 currencies and more than 40 banks and payment partners in nine countries through multiple channels and multiple languages, as well as its ePayAlert advanced fraud detection solution. Upon completion of the integration, the benefits of AsiaPay's PayDollar eCommerce payment gateway for credit card transactions will be available to NetSuite customers, in conjunction with NetSuite's powerful commerce, sales, service and ERP functionality, without the need to adopt additional software or change their business processes.
Founded in 2000, AsiaPay is a leading electronic payment solution provider, with headquarters in Hong Kong and offices in China, Taiwan, Singapore, Malaysia, Thailand, Philippines, Vietnam, India and rapidly expanding into new Asia Pacific markets. It delivers advanced, secured and integrated electronic payment processing solutions and services to various leading banks and over 3,000 merchants across Asia. AsiaPay also offers a variety of payment solutions that are multi-currency, multi-lingual, multi-card and multi-channel, together with advanced fraud detection.
The native integration between NetSuite and AsiaPay should create particular advantages for companies that have already embraced NetSuite's new SuiteCommerce platform. SuiteCommerce improves interactions with other businesses and directly with consumers via a cloud platform, delivering an enhanced customer experience through multiple touchpoints, directly on the core NetSuite ERP/CRM business management application. This technology transcends the limitations and complexity of first-generation eCommerce systems to deliver new efficiencies for merchants and a superior experience for customers. SuiteCommerce's omnichannel selling approach can be complemented by AsiaPay's extensive support for eCommerce, m-commerce, mail order and call centre payment channels.
"Rising incomes and a growing middle class has seen rapid adoption of eCommerce throughout Asia," said Craig Sullivan, vice president and general manager, International for NetSuite. "Our partnership with AsiaPay is expected to offer retailers a complete commerce solution, with NetSuite's cloud-based SuiteCommerce platform at its core, largely taking care of all the components needed for a successful multi-channel business spanning the Asia Pacific region."
AsiaPay's PayDollar eCommerce payment gateway service allows businesses of any size to securely accept credit card payments in real-time. Once registered and approved by AsiaPay, a merchant can accept payments from a wide range of credit cards, leveraging over 40 currencies through multiple channels and multiple languages, with a single account. It is supported by AsiaPay's ePayAlert comprehensive online fraud prevention solution, which protects banks, payment service providers and merchants from the risks associated with card-not-present transactions. It fully processes and checks online payment transactions automatically using extensive dynamic rules, with real-time fraud reporting and alert support.
"The integration of our payment gateway with NetSuite's SuiteCommerce platform, is expected to give B2B and B2C merchants in Asia a complete solution for processing credit card transactions from multiple touchpoints, whether it be online, from a tablet device or over the phone," said Joseph Chan, CEO of AsiaPay. "This is crucial as retailers are increasingly turning to multi-channel retailing as a new revenue source in this highly competitive market."
Today, more than 12,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organisations seeking to upgrade outdated client/server ERP systems. NetSuite excels at streamlining business operations, as demonstrated in a recent Gartner study naming NetSuite as the fastest growing top ten financial management systems vendor in the world. NetSuite has continued its success in delivering the best cloud financials/ERP suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of cloud is accelerating.
For more information about NetSuite, please visit www.netsuite.com
For more information about AsiaPay, please visit www.asiapay.com.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the future integration of AsiaPay's PayDollar eCommerce payment gateway and merchant services with the NetSuite SuiteCommerce platform. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including, without limitation, that either party decides not to move forward with the project or difficulties that could be encountered in completing the integration. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.