Japan’s largest payment processor, GMO Payment Gateway leads Series A+ round in Jewel Paymentech

Singapore (15 March 2018) – Jewel Paymentech (“Jewel”), provider of risk intelligence solutions to payment networks, banks and payment gateways has secured Series A+ funding led by GMO Payment Gateway Pte. Ltd. (a Singapore subsidiary of GMO Payment Gateway, Inc. (TSE: 3769)). The firm’s existing backer Tuas Capital Partners Pte. Ltd. also returned to co-invest in this round.

As digital payments begin to transform Asia to a cashless society, Jewel’s suite of solutions is set to tackle the different challenges faced in digital payment acceptance. These include making merchant signup instantaneous, onboarding of small merchants, allowing merchants to be more mobile across countries and making payments safer through fully automated risk technologies.

This new funding will support Jewel’s market expansion plans as well as to accelerate the development of new deep learning AI technologies to facilitate the cash to cashless conversion.

As part of the investment from GMO-PG, Jewel will also form a partnership that will see Jewel products being rolled out in the Japan market. CEO of Jewel Paymentech, Sean Lam said, “We’re extremely excited with the capital alliance formed with GMO-PG, which will enable to us to penetrate new markets in Asia region.”

 

About Jewel Paymentech

Jewel Paymentech is a financial risk technology company founded in 2014 with a mission to develop intelligent risk solutions for the banking and electronic payments industry. Jewel provides a complete suite of intelligent solutions to solve gaps in ePayment acceptance such as instant on-boarding, merchant due diligence, transaction laundering, counterfeit & illegal product management as well as transaction fraud management using predictive analytics.

Based in Singapore with offices in Malaysia and Hong Kong, Jewel currently provides ePayment AI risk management to the region’s largest banks and payment networks.

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15 Mar / 2018

Board of Advisors – Welcoming Mr. David Lee

 

Jewel Paymentech is extremely pleased to welcome Mr. David Lee to our Board of Advisors.

David spent 25 years in Visa International holding various senior positions including Chief Financial Officer, Chief Operating Officer and the appointment of President for the Asia Pacific Region in 2008. He then spent 7 years in Shanghai with China UnionPay as Special Advisor to Chairman & Senior Management followed and subsequently as Chief Cooperation Officer of Union International.

David Lee is a fellow of the Chartered Association of Certified Accountants (ACCA) and graduated from the Harvard Business School’s Advanced Management Program.

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19 Jan / 2018

2017 – accelerated learnings for a stellar startup year

Spending a good number of years in large corporations in both technical and client facing roles, I thought I had seen it all and I could handle any challenges thrown at me.

Startups should be a walk in the park right?

2017 proved that I was wrong on both fronts. I had not seen it all. And I certainly didn’t have the answers to everything at my fingertips. As a company, we had to respond rapidly to solve to people, process and technology challenges. From project delays to talent acquisition to HR issues, we saw it all this year.

I had to learn to juggle. Prioritize in a heartbeat. Learned new subjects. Figured ways to make things better.. and more importantly, faster. I personally had to overcome my fear of failure that life throws at us every now and then.

As challenging as 2017 was, it was by any measure a stellar year that any young startup could have wished for. Our client list multiplied, our technology leapfrogged, we filed multiple patents, expanded overseas and most importantly, grew a core team of bright, passionate and determined individuals who are looking to make their mark in reshaping ePayments.

Einstein once said: “It’s not that I’m smart, it’s just that I stay with problems longer”. While I’m very certain that Mr. Albert was being humble when he said it about himself, he was spot on with regards to solving real problems. There isn’t any shortcuts in life and we have to be steadfast, resourceful and patient.

There’s a lot of work that needs to be done in our quest to make ePayments smarter, faster and safer. We will have to continue to put our heart and soul into making our products better and ultimately make our clients successful in their payments business.

The road to success isn’t always straight or paved. What I’m certain however, is that we will look back to 2017 as the year that thought us how to scale as a startup and the year that laid the foundation required to be a uniroach.

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02 Jan / 2018

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