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

Jewel Paymentech signs MoU with PCI-QSA Rock

Jewel Paymentech and Rock Pte Ltd (Rock), a PCI Qualified Security Assessor (QSA) and Visa Approved Security Assessor (SA) inked a Memorandum of Understanding to collaborate in developing and deploying PCI-related products to clients in order to expedite on-boarding and manage risks of merchants and agents.

The framework will enable the development of next generation products that will address current industry pain points on merchant KYC.

Jewel Paymentech develops intelligent solutions to manage risks associated with payments acquiring for banks, payment processors and marketplaces. The solutions encompass merchant application due diligence, predictive chargebacks, detection of illegal and counterfeit products, anti-money laundering and transaction fraud prevention.

Rock provides IT consulting, audit and education services. It is an approved PCI company which conducts data security assessment for banks, processors and merchants. In addition, Rock is also approved by Visa to perform ACS (Access Control Server), Approved Vendor Program (AVP) and PIN assessments.

The MoU was signed by Lee Wooi Siang, COO of Jewel Paymentech and Gwendyln Chong, CEO of Rock Pte Ltd.

 

External References

Global List of PCI Qualified Security Assessors (QSA)

Global List of Visa Security Assessors (SA)s

Rock

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16 Jan / 2017

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