OCTO3 Limited: Developing a Global Payment Hub
Ajmal Samuel, FounderEstablished in 2014, the company commenced its journey with the aim of creating a “truly global payment platform”, and in the short span of two years, the organization has built an impressive array of technology, services and clients. The uniqueness and strength of its service offering lies in the organization’s Velox Platform, an advanced, banking compliant, cloud-based, Payment-as-a-Service (PaaS) transaction platform that seamlessly connects customers to a comprehensive and growing set of payment methods across the globe through a single, simple access point.
The white-label and client configurable Velox platform is not restricted only to online (ecommerce) transactions.The platform also enables traditional ISO 8583 Card Present Transactions, mPOS, ISO 8583 Payment Switching, end-to-end Tokenization, Card Scheme Interchange Management, Card Scheme Connectivity, and Base I Base II processing.
Founder and Chairman of OCTO3, Ajmal Samuel, explains, “By combining advanced technologies with the latest security and regulatory requirements, OCTO3 is the right partner to deploy your business strategy in the shortest possible time, enabling you to access, process, view, and manage all transaction types under one single platform.
"Elaborating further, he says, “These include ecommerce, physical POS, mPOS, MOTO, coupon, and loyalty transactions, making OCTO3 unique as a truly Omni channel service provider. Clients can benefit from Velox’s Intelligent Routing and Switching for cost optimization and control, real-time consolidated reporting on the web-based management portal, and PCI-DSS Level 1 compliant Secure Tokenization.”
Complementing the Velox transaction platform solutions, OCTO3 Limited provides clients with valuable turnkey solutions, such as “BOSS” (Back-office Operations Support and Services). Utilizing OCTO3’s in-house KYC team and global due diligence/3rd party risk program, BOSS enables OCTO3’s payment service provider (PSP) clients to offload the merchant on-boarding process and ongoing merchant management. The turnkey service list expands to include offerings in Fraud Management, Real-Time transaction monitoring, tax compliance solutions for changing VAT regulations, and global Remittance Services.
In addition to the Hong Kong headquarters, OCTO3 has offices in Singapore and Thailand and on track for expansion to Europe, Latin America, and the South Asia Subcontinent in 2017. Ajmal explains, “OCTO3 already enjoys comprehensive access to global payment methods and we will continue to strengthen our capability in terms of increased payment acceptance and platform functionality in order to maintain our competitive advantage. However, our further overseas expansion in the coming year will significantly accelerate customer acquisition in those key markets, as well as support our strategic M&A initiatives.”
The Velox Omni channel transaction platform, combined with a suite of turnkey services, enables rapid and seamless access to payment methods across the globe
"Elaborating further, he says, “These include ecommerce, physical POS, mPOS, MOTO, coupon, and loyalty transactions, making OCTO3 unique as a truly Omni channel service provider. Clients can benefit from Velox’s Intelligent Routing and Switching for cost optimization and control, real-time consolidated reporting on the web-based management portal, and PCI-DSS Level 1 compliant Secure Tokenization.”
Complementing the Velox transaction platform solutions, OCTO3 Limited provides clients with valuable turnkey solutions, such as “BOSS” (Back-office Operations Support and Services). Utilizing OCTO3’s in-house KYC team and global due diligence/3rd party risk program, BOSS enables OCTO3’s payment service provider (PSP) clients to offload the merchant on-boarding process and ongoing merchant management. The turnkey service list expands to include offerings in Fraud Management, Real-Time transaction monitoring, tax compliance solutions for changing VAT regulations, and global Remittance Services.
In addition to the Hong Kong headquarters, OCTO3 has offices in Singapore and Thailand and on track for expansion to Europe, Latin America, and the South Asia Subcontinent in 2017. Ajmal explains, “OCTO3 already enjoys comprehensive access to global payment methods and we will continue to strengthen our capability in terms of increased payment acceptance and platform functionality in order to maintain our competitive advantage. However, our further overseas expansion in the coming year will significantly accelerate customer acquisition in those key markets, as well as support our strategic M&A initiatives.”
