38683 - 2C2P

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Summary of Investment Information

Project Number

38683

Company Name

2C2P PTE LIMITED

Date SPI Disclosed

Aug 30, 2019

Country

Thailand

Region

East Asia and the Pacific

Projected Board Date

Oct 4, 2019

Environmental Category

C - No Impact

Status

Active

Last Updated Date

Dec 25, 2025

Department

Equity Portfolio Management

Industry

Financial Markets

Previous Events

Approved : Nov 14, 2019
Signed : Nov 20, 2019
Invested : Nov 26, 2019

Sector

Online payments, ecommerce payments

Project Description

IFC is considering an equity investment in 2C2P, a Southeast Asian payment service provider, to support the Company’s regional growth plans.

Associated Advisory Engagement

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	15.0

Development Impact

(i) Improved access and quality of payment services: The expected Project outcome is the growth of payment acceptance services to merchants in Thailand and the region. While Thailand has achieved high rates of financial access, adoption of digital payments lags behind. The limited penetration and the high fragmentation of payment services in Southeast Asia represent a barrier for both consumers and merchants. As an acquirer and payment processor, 2C2P enables its merchants to receive payments from a broad range of issuers and through a network cash-acceptance points across South East Asia. (ii) Integration: The investment will promote the integration of merchants and consumers in the domestic and regional digital economy. By removing a key friction to development of the digital economy, 2C2P will contribute to growth of digital businesses and value chains across the region.

As an experienced emerging market investor in the payments space, IFC will support the company to achieve its growth potential through needed funding and strategic guidance on decisions regarding the business and its regional expansion. IFC is providing patient venture equity to the Company, in a country where venture capital and equity funding are limited. Furthermore, IFC's participation as a shareholder might provide comfort to prospective merchants and strategic banking partners as the company seeks to grow its business regionally.

E&S Category Rationale / Risks and Mitigation

This is a Category C project according to IFC's Policy on Social and Environmental Sustainability, as IFC's environmental and social (E&S) due diligence indicates that the project involves a low level of E&S risk. 2C2P leases office space to provide payment services using off-the-shelf equipment and business partners. Accordingly, while all IFC Performance Standards (PSs) are applicable to this investment, the key E&S issues in this project are in the company's human resources management, so E&S risk must in particular be managed in a manner consistent with PSs 1 and 2. Therefore, IFC will require 2C2P to implement policies and procedures on human resources management consistent with IFC's PSs for the duration of IFC's investment and to report on any E&S incidents.

Contacts

For Inquiries About the Project, Contact

2C2P PTE, LTD
Anthony JX Huang-Widjaja
CFO
+65 6717 2333
anthony@2c2p.com
33-4 Rama 9 Road, The 9 Towers Grand Rama 9, TNB 01-02, Tower B, 26 floor, Bangkok 10310, Thailand
www.2c2p.com

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Local Access of Project Documentation

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

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