Singapore-based payment service provider Payment Options has partnered with Tribe Payments, an issuer and acquirer processor, to provide payment processing technology and connectivity for its acquiring business. The partnership will support Payment Options' Visa and Mastercard direct acquiring operations across Asia-Pacific and Central and Eastern Europe, the Middle East, and Africa (CEMEA), starting in Mauritius, with a phased rollout to other markets.
From reseller to principal member
Founded in Singapore in 2012, Payment Options started as a reseller and referral agent for acquirers, then built its own payment gateway and became a payment service provider and payment facilitator. It now has offices in Singapore, Mauritius, Hong Kong, Japan, and Malaysia, and is a principal member of Visa and Mastercard in Mauritius.
After gaining principal membership, Payment Options considered building its own card processing platform before deciding to work with a partner. It selected Tribe after speaking to several providers. Aaron Yip, Managing Director of Payment Options, said the company wanted a processing partner with payments expertise and knowledge of its markets, and that Tribe's experience working with the card schemes gave it confidence.
Merchant acquiring growth in Asia-Pacific
Matt Weir, GM, Asia-Pacific at Tribe Payments, said Payment Options' progression from referral partner to payment facilitator and then principal member and acquirer reflects the growth Tribe is seeing in merchant acquiring across Asia-Pacific. He added that Tribe will provide the processing for that next step and support Payment Options as it expands its merchant acquiring business in the region.
Payment Options is also exploring other Tribe products, including SoftPOS, which allows merchants to accept card payments on smartphones. Payment Options has also referred several of its own partners to Tribe, and plans to add further acquiring markets in phases as the group expands. Founded in 2018, Tribe Payments provides issuer and acquirer processing through a modular, cloud-based platform connected to major card schemes.
