Fintech PR
Arajet, the Dominican Republic’s Low Price Start-up Airline, to Partner with CellPoint Digital for Payment Orchestration
The partnership centralises Arajet’s payment processes and allows the airline to support a variety of alternative payment methods (APMs) in South America and Mexico
LONDON, Sept. 10, 2024 /PRNewswire/ — CellPoint Digital, the leading provider of payment solutions to the global airline, hospitality and travel industries and pioneer of Payment Orchestration, today announced a new partnership with Arajet, a fast-growing low price carrier operating in the Caribbean and the Americas.
Launched in 2022 and headquartered at Las Americas Airport in Santo Domingo, Arajet is the national flag carrier of the Dominican Republic, serving 23 destinations across 16 countries. Arajet is positioned as a national Dominican project aimed at supporting the country’s tourism and travel industry, and is the only airline set to connect Santo Domingo with Toronto and Montreal via direct flights. With 10 737 Max 8 aircraft in its fleet, Arajet aims to extend the reach of its network across North America.
Arajet’s business model is based on operating cost-effective flights between North and South America, with a layover in Santo Domingo. The carrier’s long-term objective is to lower airfares across the Americas, leveraging its fleet of fuel-efficient Boeing 737 Max 8s (the 10th and most recent delivery of which occurred in June 2024) and planning to double its route network over the next few years.
Bringing Affordable Air Travel to the Americas
To achieve its growth ambitions across the North and Latin American regions, Arajet needed a sophisticated payments network and a payment infrastructure provider capable of powering a wide range of alternative payment methods (APMs) while minimising transaction costs and facilitating expansion into new markets. This made a partnership with CellPoint Digital – which offers a comprehensive payment solution with a long track record of success in the LATAM region – a natural next step in Arajet’s growth journey. Among other benefits, the partnership will allow Arajet to quickly introduce support for critical new APMs on its flights across Mexico, Brazil and Colombia using CellPoint Digital’s single API connection.
“Just as innovative new low-price carriers like Arajet play a crucial role in facilitating affordable travel and connecting populations, innovative payment technology is central to helping these airlines remain competitive and thrive,” said Kristian Gjerding, CEO at CellPoint Digital. “Our Payment Orchestration solution, developed to support global airlines in scaling organically, eliminates the need for Arajet to hold separate commercial agreements with APM providers. Our platform also enables Arajet to activate new payment value-added services as new markets come online, generating additional revenue.”
The first stage of the partnership will see CellPoint Digital enable instalment card payments on Arajet flights, responding to the demand for this feature in the Brazilian market. This will offer travellers greater flexibility and minimise the number of abandoned bookings, boosting customer retention.
Victor Miguel Pacheco Mendez, Arajet’s Founder and CEO, added: “As a start-up airline growing across several regions, we needed a payment partner that could both support our expansion ambitions and create efficiencies that enable us to continue offering attractive fares to our passengers. In this way, CellPoint Digital is our ideal partner – their ecosystem of APMs matches payment preferences in our target markets, and its Payment Orchestration solution will create future efficiencies as we expand our route network into new geographies.”
For more information about the CellPoint Digital and Arajet partnership or to schedule an interview with Kristian Gjerding, please contact Steven Osei at [email protected].
About CellPoint Digital
CellPoint Digital is a fintech leader in payment orchestration whose main solution is a powerful Payment Orchestration Platform that optimises digital payment transactions from cards and accelerates the deployment of new payment options. Merchants can easily scale their own payment ecosystem across the world, unify the customer payment experience across their website and other channels, optimise the routing of each transaction, increase conversion rates and minimise payment costs. CellPoint Digital has offices in Copenhagen, Dallas, Dubai, London, Miami, Pune and Singapore. Visit www.cellpointdigital.com to learn more.
About Arajet
Arajet is the first low-price airline in the Caribbean region and began operations in September 2022 from its base at Las Americas Airport in Santo Domingo, under its Dominican Republic air operator certificate (AOC). Arajet operates a new fleet of Boeing 737 MAX aircraft that provide safe and affordable travel to and from the Dominican Republic to various destinations in North, Central and South America and the Caribbean region. For more information, visit www.Arajet.com
View original content:https://www.prnewswire.co.uk/news-releases/arajet-the-dominican-republics-low-price-start-up-airline-to-partner-with-cellpoint-digital-for-payment-orchestration-302243025.html
HONG KONG, Sept. 19, 2024 /PRNewswire/ — J&T Global Express Limited (“J&T Express” or “J&T” or “the Company”, stock code: 01519.HK), a global logistics service provider, announced a substantial increase in parcel volume during Southeast Asia’s 9.9 Mega Sales, one of the region’s largest annual e-commerce shopping festivals. Held from 9 to 11 September, major e-commerce platforms offer consumers a range of promotional deals during this peak shopping period.
Thanks to strengthened partnerships with key e-commerce platforms and a focused expansion into non-e-commerce sectors, J&T Express experienced strong parcel growth during the 9.9 sale. Compared to August 2024, parcel volumes across multiple Southeast Asian markets surged by over 20%. Year-on-year, several countries saw their business volumes double compared to the same promotional period in 2023.
Hou Junyi, Vice President of J&T Express, commented, “Our robust performance during the 9.9 mega sale reflects the enormous growth potential of Southeast Asia’s e-commerce market and demonstrates J&T’s continued service enhancements in the region. Beyond e-commerce, we’re also expanding into new sectors, offering reliable, efficient logistics solutions to more clients. We’ll continue strengthening our network and investing in operational resources to deliver exceptional service as always.”
J&T Express is expanding its partnerships with a more diverse client base across Southeast Asia. In Thailand, the Company has become the logistics partner for leading consumer finance brand KTC, Business for Healthy Brand Legacy Corp, Watsons, and Apple-authorized reseller SPVI, managing their online and offline orders. In the Philippines, J&T partnered with Dito, one of the country’s top telecom operators, doubling its delivery volume during this year’s 9.9 mega sale.
To meet growing demand and peak season volumes, J&T Express has continued to ramp up its local investments and network enhancements across Southeast Asia. By the end of August, the Company upgraded 11 sorting centers and added 9 distribution hubs across the Philippines, boosting sorting capacity by 1.5x. It also secured 1.5x additional third-party transport resources to support the surge in sorting, deliveries, and customer service during the shopping festival.
In Vietnam, J&T introduced 400 additional line-haul vehicles, and the Company’s largest sorting center in Northern Vietnam is set to go live soon. Equipped with intelligent operational technology and advanced equipment, the center will automate every stage of the process, achieving a 99.99% accuracy rate in parcel handling and significantly enhancing operational efficiency.
About J&T Express
J&T Express is a global logistics service provider with leading express delivery businesses in China and Southeast Asia, the largest and fastest-growing market in the world. Founded in 2015, J&T Express’ network spans thirteen countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil and Egypt. Adhering to its “customer-oriented and efficiency-based” mission, J&T Express is committed to providing customers with integrated logistics solutions through intelligent infrastructure and digital logistics network, as part of its global strategy to connect the world with greater efficiency and bring logistical benefits to all.
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View original content:https://www.prnewswire.co.uk/news-releases/jt-express-achieves-strong-growth-in-9-9-mega-sales-through-refined-operations-302252579.html
HANOI, Vietnam, Sept. 19, 2024 /PRNewswire/ — Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB) has signed a strategic cooperation agreement with TerraPay, a global money movement company. This collaboration will bring digital payment solutions and data capabilities to help MSB enhance efficiency and offer the best payment service experience to customers by bringing down costs and reducing transaction times.
According to forecasts from the Bank of England, the cross-border payment market is expected to grow by over USD 100 trillion in the next decade, reaching over USD 250 trillion by 2027. Along with the pace of digitization, the demand for real-time global payments is becoming increasingly urgent. However, unlike domestic transfers, international money transfers continue to be complex, time-consuming, and costly, even today.
In response to this reality, the new partnership between MSB and TerraPay aims to break down these barriers, enabling the use of financial services more quickly, conveniently, and reliably. According to the cooperation agreement, MSB and TerraPay will provide payment solutions, payment infrastructure, and other products and services to partners and (or) customers; simultaneously introducing each other’s products and services to the partner’s customers who have a need for them. Both companies will focus on supporting small and medium-sized enterprises (SMEs) with global money transfer needs. Through this partnership, SMEs will benefit from quick, convenient, and cost-effective global payout solutions.
Mr. Nguyễn Thế Minh, Deputy General Director of MSB, believes that, “The cooperation between the two parties will bring numerous benefits and economic efficiencies for Vietnamese businesses in both domestic and international payments.”
Sudhesh Giriyan, President – Cross border payments at TerraPay said, “Our partnership with MSB is a big step towards enhancing global payments for businesses across Vietnam. We are excited to work together, combining our strengths and expertise, to transform the broader landscape while furthering our mission of simplifying global money movement.”
Along with efforts in digital transformation, MSB continues to build and seek appropriate financial solutions through reputable partners to bring superior value and experience to customers.
For more information on solutions for corporate customers, please click msb.com or contact the hotline: 18006260.
About MSB
Established in 1991, MSB has continually grown, achieving many important milestones in the financial banking industry over nearly 33 years. MSB currently has over 260 branches and transaction offices nationwide, and it transacts with over 500 correspondent banks in more than 60 countries and territories. MSB has over 6,000 staff, serving more than 5.4 million individual customers and nearly 100,000 corporate customers.
About TerraPay
TerraPay simplifies the movement of money everywhere – providing a single connection to the most expansive cross-border payments network regulated in 30+ global markets and enabling payments to 140+ receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.4Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay has built the global digital wallet interoperable network and pushes the boundaries for global businesses – ranging from digital wallets, banks, fintech and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is a global company headquartered in London and comprising 42 nationalities. It has global offices in Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, The Hague, Johannesburg, Nairobi, Milan, and Singapore, and is expanding rapidly. We have received funding from leading investors, including the IFC (World Bank), Prime Ventures, Partech Africa, and Visa.
Contact:
Juveria Samrin,
[email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/msb-and-terrapay-collaborate-to-simplify-and-enhance-cross-border-money-transfers-302251772.html
Fintech PR
Markel appoints April Tam as Senior Underwriter, PFR & Cyber and Head of Financial Institutions, Asia
SINGAPORE, Sept. 19, 2024 /PRNewswire/ — Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), is pleased to announce the appointment of April Tam as Senior Underwriter, Professional Financial Risk (PFR) & Cyber and Head of Financial Institutions in Asia. This strategic hire is integral to advancing Markel’s profile and reinforcing its leadership position in the PFR sector.
In her new role, Tam will be instrumental in strengthening Markel’s Financial Institutions proposition in Asia. Working in collaboration with the regional underwriting team across Asia, Tam will focus on driving continued profitable growth of the company’s PFR book and ensuring its scalability and diversification. She will also be responsible for forging strong relationships with insurance brokers, clients and partners in the region.
Tam joins Markel from Allianz Commercial, where she was most recently employed as Financial Institutions Practice Leader, Asia. Prior to joining Allianz Commercial in 2018, Tam gained expertise at Zurich Insurance Group. With more than 12 years’ experience in Financial Lines underwriting, Tam brings a wealth of expertise, broker relationships and a proven track record to Markel.
Based in Hong Kong, Tam will report to Kevin Leung, Chief Underwriting Officer, Asia Pacific.
Leung commented: “I’m excited to welcome April to our team in Hong Kong. Her extensive experience and deep understanding of Financial Lines underwriting will be of huge importance as we continue to expand and enhance our PFR offerings. I’m confident that April’s expertise and strong networks will significantly help to contribute to our strategic objectives and strengthen our position in the Asia market.”
About Markel
We are Markel, a leading global specialty insurer with a truly people-first approach. As the insurance operations within Markel Group Inc. (NYSE: MKL), we operate the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, as well as State National, our portfolio protection and program services operations, and Nephila, our insurance-linked securities operations. Our broad array of capabilities and expertise allow us to create intelligent solutions for the most complex risk management needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
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View original content:https://www.prnewswire.co.uk/news-releases/markel-appoints-april-tam-as-senior-underwriter-pfr–cyber-and-head-of-financial-institutions-asia-302251969.html
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