Qwik makes 2C2P payments easier

Piyachart Ratanaprasartpon, chief executive officer of 2C2P (Thailand), said Qwik is the first conversation commerce payment platform in the world.
The company has embedded the payment session in Facebook’s chat application.
The beauty of it is facilitating payment for small and medium enterprises as well as individuals doing business on Facebook while still maintaining the conversation between buyer and seller. 
“During payment, buyers and sellers can do price negotiation. It’s like hybrid e-commerce,” he said. 
Qwik is an infrastructure that makes payment for conversation commerce easier, more convenient and more secure. 
Users can be more confident when making an electronic payment during a chat session on Facebook Messenger. 
The company spent almost a year developing Qwik and another year testing it with Facebook Page sellers through collaboration with Facebook before launching Qwik in the middle of last month.
About 30,000 pages or sellers have applied for Qwik. Piyachart aims to get 100,000 pages to apply by year-end. 
“Facebook will select which Pages will be able to use Qwik. Not everyone can see Qwik. Up to now, around 80 per cent of the 300,000 total pages in Thailand have been allowed to use Qwik,” he said.
The goal is to expand to Facebook Page sellers in the top four countries of Facebook, in terms of the number of users and pages, in the world, and in Southeast Asia, which includes Indonesia, the Philippines and Vietnam. 
These four countries together have 300 million Facebook users. 
He also aims to get Qwik on Instagram, but that depends on Facebook.
Qwik charges 2.75 per cent of the transaction value, but during the three months of promotion, from August 15-November 15, Facebook is absorbing the cost for all pages applying for Qwik. 
Qwik will help merchants on Facebook Page to get more sales and help Facebook to get more sellers on its platform. 
“The most popular product categories sold on Facebook Pages are fashion, clothing, supplements and electronic gadgets. The average spend is Bt1,500-Bt1,800, while the minimum amount spent using Qwik is Bt300,” he said.
Qwik is expected to contribute 20 per cent of 2C2P’s total revenue by the end of next year. 
“Working with Facebook, we really hope to offer more financial services for Facebook users in Thailand and in Southeast Asia, where the most active conversation commerce in the world is,” he said. 2C2P, which operates in 10 countries in Southeast Asia, expects revenue to hit between US$22 million  and US$23 million, with about 50-60 per cent coming from Thailand.
Most of 2C2P’s revenue comes from the travel industry, especially the airline business. 2C2P provides payment for the large 20 airlines in the world.