SINGAPORE: Catalist-listed digital security company DISA Limited has sealed a strategic partnership with SCash Technologies Pte Ltd, a Singapore-based provider of mobile point-of-sale solutions through its wholly owned subsidiary, Disa Digital Safety Pte Ltd (DiSa).
The partnership will allow SCash to leverage on DiSa’s network of retail clients in the United States and help DiSa diversify its revenue streams.
As part of the partnership, DiSa has invested $150,000 for a minority stake in SCash. SCash is a fast-growing start-up whose SCash mobile application (app) helps merchants to transform their offline businesses into an online business instantly.
Merchants can gain full e-commerce capabilities by downloading the SCash app on their mobile devices, turning these devices into mobile points-of-sale (POS). As soon as they are registered for Alipay merchant access, a process which takes between 24 and 48 hours, they can immediately engage in cross-border transactions with Alipay’s more than 630 million active users. Alipay users, especially Chinese tourists who use Alipay e-wallets, will then be able to pay for their purchases at retail stores and service outlets.
The merchants may also offer promotions and discounts, set up online memberships, monitor real-time transactions and track sales performance through the SCash app.
Founded by Michael Lee, SCash onboarded over 1,000 merchants within six months of the SCash app’s commercial launch in Singapore in March 2018. Today, it serves more than 50,000 merchants in Singapore and China. They include big names like Rolex, Swarovski, Godiva Chocolatier, Spectacle Hut, the Valiram Group, and SMEs such as restaurants Maggie Thai and Hans im Glück. SCash has also engaged companies like Resorts World Singapore and Changi Airport Group to have their vendors offer Alipay as a payment option, and to further engage Chinese tourists via the Alipay mini program.
DiSa’s Chief Executive Eddie Chng said: “We are very excited to partner SCash in their expansion into the US market. We are confident that their pioneering mobile point-of-sale technology will be well received by US merchants given the growing number of Chinese tourists to America. This partnership will create synergies for DiSa and SCash in the US market even as it helps us to diversify our revenue streams.”
SCash CEO and Founder Michael Lee said: “We believe that US merchants will find our SCash app a powerful solution to reach out to the over three million Chinese tourists who visit the US annually.”
According to The World Bank, China has the largest outbound travel market with its 143 million tourists spending US$ 258 billion globally in 2017, or 18% of total international tourism expenditure. In Singapore, the more than 2.7 million Chinese tourists who visited the Republic spent about US$ 2.4 billion in 2017.
DiSa has been in the US market since 2017 with its 3S Smart Barcode, a POS activation technology, which protects against retail thefts. Companies deploying DiSa’s technology include tech giant Samsung, Swagtron, a manufacturer of electric hoverboards and electric scooters, and a large US retailer. [the_ad id=”31605″]