The Future of Online Payments was held on July 21 at Tech Temple in Dongcheng. Austcham co-hosted the event with BritCham and BenCham. Payments exchanged over platforms like WeChat and AliPay have increased exponentially since 2010 and those in attendance heard fascinating insights into how non-bank institutions are storing and transmitting ever larger measures of value.
BenCham General Manager Peter Pronk initiated the evening and introduced the first speaker, Richard Bensberg of the bitcoin startup Remitsy. Richard spoke about the risks and costs involved in current systems used for transferring money across borders, and how bitcoin technology offers the prospect of bypassing them.
Next, speakers Bob Bogaert and Jonathan Ennslen of the event management startup Clearcut presented on how their firm sees advances in payments technology as having effects on the services sector. New payment systems offer the potential to enhance customers’ access to services in the same way that e-commerce advances have previously enhanced consumers’ access to goods.
Finally, Michael Chao of accounting startup Megi discussed his views on the potential for digital technologies to reduce accounting costs for small businesses in China. Megi’s software connects small businesses with a “virtual CFO” who examines their financial records offsite and thus reduces the business’s accounting costs.
The night concluded with a dinner sponsored by delivery company Sherpas and an opportunity to interact and discuss the ideas put forward by each of the speakers.
AustCham took photographs of the night’s activities.
BENCHAM & BRITISH CHAMBER OF COMMERCE, in collaboration with AUSTCHAM are hosting the “Payment in Progress- The Future of Online Payments and Private E-Commerce” event to be held Thursday, July 21st.
Date: Thursday, July 21st, 2016
Open for: All welcome
Cost: Members 50 RMB Non-Members 100RMB
Venue: Tech Temple, Beijing
Address: Building D, Kelin Blocks, 10 Dongsi Bei Dajie, Dongcheng District.
Third party online and mobile payments in China are set to grow over 30% in 2016 and reach 5.3 trillion RMB by 2017. There`s not an business that remains unaffected by the trends developing in this industry. Join us for an exciting evening in which you will be updated on the latest developments, and ask your own questions to our panel of experts.
– Theme 1: Payments
– Theme 2: Progress
– Theme 3: Future, how will all this impact your business?
MEGI Presentation and panel discussion
Richard Bensberg is CEO of Beijing-based payments startup Remitsy, which uses a blockchain-based settlement rail to bring transparency and speed to cross-border business payments.
Having headed up Compliance at OKCoin – the world’s largest Bitcoin exchange – Richard is one of China’s foremost experts in implementing blockchain-based business solutions. Previously, Richard was Managing Director of C6 Intelligence, one of the world’s leading providers of Open Source Intelligence to the global Financial Services.
He is an expert in global regulatory compliance including Know Your Customer (KYC), Anti Money Laundering (AML), and Counter Financing of Terrorism (CFT). Having throughout his career advised some of the world’s leading financial services firms, Richard is now passionate about bringing the power of FinTech to SMEs.
Jonathan Ensslen founded ClearCut in 2011. The company is currently one of the most promising IT companies in China, specializing in online payments, event services and private ecommerce.
Jonathan`s vision is for payments to become more integrated, for people to discover each other during events and for businesses to expand out of their traditional ecosystem. Starting his IT career at 19 years old in Penssylvania, he came to China in search of an entrepreneurial challenge in 2010.
Jonathan has a passion for entrepreneurship, mentorship and corporate responsibility.
Michael is founding partner at MEGI China. MEGI is a cloud based accounting software that brings easiness and beauty to the management and controlling of small and startup business in China.
Working in seamless collaboration with their outsourced accountants in the MEGI cloud platform, small business owners or management can now have their own book keeping, tax filing, annual compliance effectively completed, as well as acquire on-time financial and management advisory service.