Among the many impacts brought about by a very unexpected year, 2020 saw unprecedented growth for online merchants across Asia Pacific.

Take e-commerce, for example: last year, Bain & Company and Facebook expected Southeast Asia to have 310 million people shopping online by 2025. Instead, that milestone was achieved at the end of 2020.

This growth is undeniably great news for merchants across Asia, as well as those looking to expand across the region and further west.

At Payoneer, we’ve seen this rapid growth firsthand – with 260 per cent year-on-year (YoY) volume growth in Singapore from 2019 to 2020. Figures across the region tell the same story – India saw 170 per cent YoY growth, 90 per cent for The Philippines and 70 per cent for Malaysia.

However, with this growth comes lightening-fast development across merchants’ platforms. Whether it’s keeping up with new consumer trends, bringing onboard new sellers, or expanding into new markets, it can be easy for merchants to focus on the new and overlook the importance of their payment setup and its impact on customer experience.

Think about it from your experience as a consumer: we know the feeling of irritation that accompanies a less-than-smooth payment encounter with a merchant. The reality is, the bigger the merchant grows, the more that payment complexity can (and will) snowball.

Ensuring that the consumer experience is as streamlined as possible is vital to merchants’ success. Building and maintaining hard-earned customers’ trust, while maximising business growth, means investing in a seamless payment experience and removing unnecessary roadblocks for customers.

The case for payment orchestration

As they are getting up and running, many merchants will choose a single payment services provider (PSP) that combines just enough payment methods and risk management tools to meet their needs. This might work well initially for merchants, but can be limiting in the longer-term.

Also Read: Xendit bags US$64.6M Series B led by Accel to scale its digital payments service across Southeast Asia

What if your PSP stops supporting the exact payment method that is popular with your customers? What if, during the peak hours, your PSP suffers a system outage resulting in serious revenue loss for your business? Can you actually control your payments? Will they cover the regions where you plan to expand?

To overcome the limitation of a single PSP, merchants then often try to integrate multiple PSPs by themselves. And at a high level, this is a good idea. However, building payment connections in-house risks businesses ending up with a disintegrated, fractured payment setup.

Unfortunately, it not only results in a flawed customer experience and decreased payment acceptance, but also high transaction costs and increased demand for internal resources alongside risk and security issues.

This is where a payments headache starts to creep in, and it’s made even tougher by the fact that there is no single solution to solve the problem. Instead, the answer for merchants lies in the ability to bring on board a payment orchestration tool or provider that combines these payment processes on a single platform, and future-proofs their business to ensure a customisable, integrated and seamless payments experience.

Let the POP take the weight

Moving away from a single payment provider, and/or a DIY multi-provider system, and towards a payment orchestration platform (POP) has many strategic benefits.

Firstly, using a POP, merchants can seek out independent guidance – driven by data and analytics – on what works best for their specific business case and then integrate a bespoke payment setup for the markets in which they operate.

Payment methods and preferences vary from region to region, so merchants selling and expanding on a regional or global scale can take advantage of a POP that allows them to be able to cater to their customers’ payment preferences.

Think about the range of payment types across Asian markets as an example: we can choose Alipay, GrabPay, GoPay, PayLah!, WhatsApp or PayNow (just to name a few), or pay directly by credit card at checkout.

The routing capabilities provided by POPs also help merchants direct their transactions through the most beneficial payment providers. This eliminates declines associated with provider failures or outages and optimises the front-end checkout experience.

By helping merchants to boost their payment acceptance rates by routing transactions through regional payment processing providers in appropriate markets, a POP can improve the likelihood that transactions are accepted, making the process quicker and more successful for customers.

Also Read: 4 ways digital payments are helping businesses thrive amid a global recession

Business shouldn’t be risky

A frictionless payment experience at both the front and back end is far from the only positive aspect of opting to use a POP. Having a robust, yet flexible, POP means merchants can protect themselves and their customers with embedded risk management tools – without sacrificing convenience and ease-of-use.

More than ever, many customers are now shopping or using services online out of necessity, so the security of the purchasing experience is of continued importance. Merchants must be sure they can identify fraud without making purchasing so friction-filled that they block out legitimate customers.

At the same time, it’s crucial to ensure that returning customers who have registered payment details aren’t falling victim to fraudsters who seize access to their accounts. As you can imagine, getting this balance right is crucial.

This is why POPs enable a merchant to embed top of the line risk management tools into their platform – to help alleviate the responsibility, pressure and cost associated with security-proofing merchants’ businesses and to ultimately mitigate the detrimental effects of these situations when they do happen.

A seamless experience

The merchant landscape across and beyond APAC is more alive than ever before and using a holistic payment infrastructure with connections to a wide range of global and local payment providers, tools and risk management systems, comes with a host of benefits for merchants.

The bottom line is that the best possible frictionless and localised payment experience for customers in any country and sector is absolutely crucial for success. Your payment set-up should empower you as a merchant and enable freedom, choice and the ability to go beyond borders and capabilities.

With this in place, the alignment between frictionless payments and merchant success will continue to drive growth for those who choose to accept the current pace of change.

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Humans are inherently social. So much so that longitudinal studies have shown that happiness is largely determined by the quality of our relationships. From the playground to the office, people seek to fit in and belong.

Much has been written about how diversity and inclusion at the workplace drive productivity, efficiency, and creativity. More recently, studies have also shown that engendering a sense of belonging amongst employees directly translates to them feeling more invested in their jobs, which reduces turnover and sick days and increases overall performance. For large companies, this translates to millions in annual savings.

Unsurprisingly, companies are increasingly trying to make sense of corporate belonging. In February this year, Diversity, Inclusion and Belonging (DIBs) advocate Maya Toussaint shared with Microsoft key differences between the three concepts.

“Diversity is quite simply, representation,” said Toussaint. This means having diverse ethnicities, genders, and sexual orientations represented at workplaces. Inclusion then builds on diversity and focuses on granting equal access to development and career opportunities, and ensuring employees feel welcome and respected.

Toussaint also quoted DIBs expert Verna Myers who explained that “diversity is being invited to the party. Inclusion is being asked to dance”.

A company that is diverse and inclusive then helps foster a sense of belonging. “It’s a feeling of being able to be my true self,” said Toussaint. “I was once told I shouldn’t laugh at work. I quit the following week. I clearly didn’t belong there.”

Toussaint now works at a company where she is told her laugh is missed when she is on sick leave, and where her ideas and expertise are constantly tapped on. She feels included, and also appreciated and celebrated for the skills and quirks she brings to the table.

Also Read: Why it is now essential to encourage diversity and empower women in fintech

While diversity is a fact and inclusion a behaviour, belonging is very much a feeling. Before COVID- 19 made working from home a global norm, a key feature of belonging was being able to feel and be your authentic self at the office.

But when home becomes office, does belonging become less salient? Do measures of isolation, exclusion, and alienation change when meetings (work and play) can only take place virtually? Back when belonging was tied to the physical space of the office, creating environments that cultivated a sense of belonging amongst employees was arguably more straightforward.

In 2019, entrepreneur and author Rebekah Bastian opined that company norms such as “appearances and even the ways people have fun and unwind” were crucial factors in fostering or inhibiting a sense of belonging amongst employees. It was as much about formal DIBs policies as it was about everyday interactions that enabled one to “develop a deeper connection with others by sharing (their) authentic self and receiving acceptance in return”.

Before the new normal, weekdays consisted of lunches with colleagues, bonding over shared experiences during idle pockets of time in the pantry, and going for the occasional drink together. These were the human spaces where belonging (or a lack of) was most felt. But what happens when these spaces are erased?

Companies and employees that once enjoyed diversity, inclusion and belonging will now have to grapple with translating this culture online. Employers need to be aware of how new employees might feel alienated in their own homes during Google Hangouts with colleagues they have never met.

Or how things might now get awkward when existing employees try to get their usual lunch buddies together over Zoom (when everyone’s families are there with them in the flesh).

Some employees might struggle with figuring out the culture of the places they will be spending the next few years at. While the context of corporate belonging has changed, the right culture remains the most important factor in cultivating a sense of belonging.

At home, idle time during work hours can now be spent doing a hundred other things (read: nap, play mobile games, tend to children, chores, the list goes on). Employees might not feel left out when everyone is forced to stay home, but they might feel increasingly disconnected, which might impact personal job investment and performance. How then, can companies carve out the time and space for relationships and a sense of belonging to organically grow again?

Also Read: Is your new work-from-home culture stressing your employees?

Some companies are trying their darnedest. There are companies that organise team lunches by delivering restaurant takeaway to their employees’ homes and eating together via Zoom. There are some that host team gaming sessions on HouseParty.

Others hire yoga instructors to conduct group online workouts. Some companies even manage to bring employees from all over the world together via Zoom by sending lunch to employees in Singapore, wine to employees in Australia, and dinner to employees in the US.

Many companies are also extra committed to listening to their employees during this challenging time. They have company-wide addresses by upper management, one-on-one check-ins between managers and employees, and conduct candid AMAs (Ask Me Anything) where CEOs address questions on the ground.

These are all laudable attempts at creating opportunities for bonding online, which is the cornerstone of belonging. Yet, perhaps the biggest challenge facing any organisation is their own employees’ attitudes towards these initiatives.

In the comfort of homes, there are many things people could or would rather be doing. But if we are serious about belonging, we need to carve out the time and space to invest in the relationships at work, from home.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

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This past Monday marks International Women’s Day, where globally we have been celebrating women’s achievements in a push for equality. With the theme this year being ‘Choose to Challenge,’ it is an apt reminder to encourage people to come together and celebrate outstanding work by women, especially in a challenging business climate.

While women try to rise above everyday challenges thrown their way, 2020 serves as a lesson to the inequality that we as women can face at home and the workplace. With that, 2021 is the year for taking what we’ve learned, continuing that journey and living the values of this year’s theme – ‘choose to challenge’.

As COVID-19 continues to rattle Singapore’s economy, research reveals that nearly 82 per cent of women surveyed said their lives have been adversely affected, citing negative impacts on mental and physical well-being and work/life balance. Additionally, 60 per cent question whether they want to progress at all when considering what they believe it will take to move up in their organisation.

With the tech industry often categorised as a highly competitive and high-stress environment that is mostly dominated by males, how can women continue to thrive despite the perpetuation of traditional gender roles? The pressures experienced, along with living up to the expectations of a woman in the tech scene, shouldn’t be an impediment or threat to career progression.

Rather, this is a wakeup call for organisations to create an inclusive and safe environment that empowers women to choose to challenge status quo and enable progression, be it in the tech industry or anywhere else.

With this in mind – and as a working mother of two young girls leading the marketing team in a global tech company, here are three key learnings I’ve taken over the last year for how we can support women in the workplace and contribute to a more equal COVID-19 world:

Embracing flexible work to close the gender gap

It’s no surprise that the pandemic has created paradigm shifts in workplace flexibility and working from home arrangements. While many women have enjoyed the eased time pressures without having to rush for work and doing school drop-off, research indicates that women are more likely to continue carrying out domestic responsibilities while working flexibly.

Also Read: Why it is now essential to encourage diversity and empower women in fintech

Men, on the other hand, are more likely to put the time to prioritise their career. While it’s tempting to think that flexible work options will be an equaliser for women, women should not feel like they need to choose between work and family responsibilities.

This is where leading by example can help. Working for a business such as DocuSign that embraces equality and has actively created benefits like the ‘DocuSign Cares’ package, which can pay for childcare during mandated ‘work from home’, gives me the confidence that other businesses can support women in navigating the challenges of the COVID-19 world in a similar way.

Drawing boundaries in an era of hyper-connectivity

As a woman in tech, it’s inspiring to see how digital platforms have transformed our working models. It’s almost a year since the implementation of the Circuit Breaker in Singapore, we continue to find ourselves being constantly connected to work, staying online almost 24//7.

With technology permeating all boundaries of personal and professional life, women must step up through setting boundaries beginning with the gadgets and tools they use.

According to a recent study, 65 per cent of Singapore employers consider flexible working to be a key factor of work-life balance. Hence by drawing the necessary boundaries between work and personal spheres, engagement and disconnectivity, women can better manage their time, remain productive and perform at work all while maintaining work-life harmony to rise above glass ceilings.

Unlocking woman leadership opportunities

Leadership is a powerful tool that could make or break your organisation. By supporting women to take leadership positions, we can challenge gender stereotypes and drive equality in the workplace. COVID-19 has shed the spotlight on the need for upskilling, and it’s up to businesses to ensure that female workers are actively encouraged to participate in such programs.

For example, in APAC, half of our teams at DocuSign are managed by female leaders, who are constantly encouraged to build on their current skill set. With a diverse workforce, any business will be better positioned to build well-rounded ideas and a richer culture.

According to research from McKinsey Global Institute, increasing gender equality and championing women empowerment in Singapore’s workforce could add S$26 billion to the country’s GDP by 2025.

Now is the time to think about how we continue to deliver messages of positivity to women, as it’s clear that COVID-19 has prompted us all to think about how we can champion change in the workplace.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

Join our e27 Telegram group, FB community or like the e27 Facebook page

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The founders of Indonesian coffee chain startup Kopi Kenangan have launched an angel investment fund targeting early-stage Indonesian companies, DealStreetAsia has reported.

Coined ‘Kenangan Fund’, its average ticket size ranges from US$10,000 to US$150,000 per investment and is sector-agnostic.

Besides an investment into logistics startup Dropezy last week, the fund has also backed other local startups including fintech platform Bukukas, podcast company Noice, and automotive firm Otoklix.

Launched in May 2020 by Edward Tirtanata, James Prananto, and Cynthia Chaerunnisa, the co-founders of Kopi Kenangan, the investment vehicle is also understood to have received commitments from the trio’s unnamed friends.

Also Read: Caffeinated expansion: How Kopi Kenangan achieves its goal of opening one new store per day

“The founders believe that investing in startups is an opportunity that cannot be missed, given the trajectory of the internet economy within Southeast Asia. However, financial returns are not the only reason they are pursuing this, it is a personal passion too. Investments will be opportunistic and agnostic in nature,” a Kopi Kenangan spokesperson told e27.

Due to the nature of the fund, it doesn’t have a formal general partner, limited partner, or any other commitment to a third party.

Though the fund bears the name of the coffee chain startup, Tirtanata clarified in the report that the investments made under the fund are not linked to Kopi Kenangan’s business and operations.

Started in 2017, Kopi Kenangan has experienced rapid growth and has raised a total of US$237 million in funding from over 14 investors including Sequoia Capital, Alpha JWC and B Capital. Last year, the company raised US$109 million in a Series B funding round led by Sequoia Capital.

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Image Credit: Kopi Kenangan

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Meet Hugo Garcia-Cotte, who helps companies protect their goods from being faked.

Today, he shares how he went up against the Chinese mafia and won!

We discuss:

• His family’s influence on him
• Why moving to China was the best decision he’s ever made
• How being in China made him realise his unique advantage
• How he set up his company and struggled through fundraising
• One very important thing he recently realised which changed his business
• The story of how he came to take down the Chinese mafia
• And more!

If you don’t see the player above, click on the link below to listen directly!

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If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!

For show notes and past guests, please visit our site.

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This article was first published on We Live To Build.

Image Credit: Michal Czyz on Unsplash

The post Taking down the Chinese counterfeited goods mafia with Hugo Garcia-Cotte appeared first on e27.