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citcon.com

Founded Year

2015

Stage

Convertible Note | Alive

Total Raised

$50M

Last Raised

$10M | 5 mos ago

About CITCON

CITCON is an integrated cross-border payment and marketing platform that enables merchants to accept fast-growing mobile wallets on a global scale. It provides both in-store and mobile, web, and e-commerce payment solutions for merchants worldwide.

CITCON Headquarter Location

2001 Gateway Place Ste. 410W

San Jose, California, 95110,

United States

888-254-4887

ESPs containing CITCON

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Fintech / Payments

Omnichannel payments companies provide a comprehensive payment processing solution for businesses, allowing them to accept payments through multiple channels including online, mobile, and in-store. These platforms offer data integration across payments, marketing, and sales channels so that customers can shop and transact the same way both online and offline, giving businesses a unified view into …

CITCON named as Challenger among 14 other companies, including Stripe, SumUp, and Pine Labs.

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Expert Collections containing CITCON

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

CITCON is included in 4 Expert Collections, including E-Commerce.

E

E-Commerce

9,732 items

P

Payments

2,313 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

F

Fintech

7,431 items

US-based companies

R

Retail Tech 100

100 items

The winners of the 2022 CB Insights Retail Tech 100, published March 2022.

Latest CITCON News

Citcon Expands Payments Presence Throughout Asia Pacific

Jun 8, 2022

Enterprise Payment Leader Scales Staff and Payment Capabilities To Serve World’s Fastest Growing eCommerce Markets Citcon Inc., the one stop gateway to the world’s fastest growing payment options that enables cross-border and in-market commerce to scale, announced the organization’s latest expansion efforts in Asia Pacific. Following a successful Series C fundraise in October 2021, the global payments provider has expanded its portfolio of local wallets and alternative payment schemes to more than 200 and added in-market senior leadership and support staff to bolster its market presence throughout the Asia Pacific region. Asia Pacific countries currently account for nearly three-quarters of total global retail growth and about two-thirds of online growth. From 2014 to 2019, the compound annual growth rate for Asia Pacific retail sales was more than quadruple that of the rest of the world and online sales growth nearly doubled the rest of the world’s.1 This massive retail growth is being fueled by digital payments and hyper-local payment schemes. For overseas merchants expanding into Asia Pacific through physical locations or ecommerce, as well as regional merchants looking to expand market presence, navigating the complex web of local payment schemes is paramount. With its expanded in-market presence, Citcon is rapidly expanding digital wallet and local payment scheme integration throughout Asia Pacific, recently adding more than 50 popular local wallet solutions to better serve consumers in South Korea, Japan, Australia, New Zealand, the Philippines, Singapore, and Malaysia. Citcon has also expanded its integration with AliPay, WeChatPay, PayPal, and Klarna which have emerged as leading payment platforms serving global markets. Today, Citcon’s single API solution enables merchants to access more than 200 payment methods through a single integrated payment, reconciliation, and settlement solution. To manage its on-the-ground presence, Citcon has expanded its in-market leadership team in key locations, including Japan, Australia, Singapore and Hong Kong. Citcon recently welcomed Andrew Meimes, VP, Head of APAC, Ian Zhang, General Manager for Australia, New Zealand and Hong Kong and Siddharth Sahi, Director of APAC Payment Partnerships based in Singapore. “The booming middle class in Asia Pacific markets is the most important force driving global commerce,” said Chuck Huang, Founder and CEO of Citcon. “While western brands and western styles will find eager customers throughout Asia, buying and selling merchandise is still a hyper-localized process. We have rapidly grown our Asia Pacific market presence, including adding in-country experts and staff to help our partners to scale their businesses throughout the continent and beyond.” Traditional western payment methods like credit cards have failed to penetrate Asia Pacific markets where digital wallets and local payment schemes dominate consumer commerce. Merchants relying on traditional credit cards can experience low approval rates due to inconsistent overseas credit card validation, and high chargebacks due to international fraud. Further, e-commerce cart abandonment rates in Asia Pacific can increase when local payment methods are not available. Alternative payment solutions like software based wallets, pioneered in China and now rapidly growing throughout Asia, offer many advantages over traditional credit cards and card-based wallets popular in the United States and other western countries. With software based mobile wallets, payments are heavily encrypted and tokenized, insulating card and account numbers. Wallet purchases can therefore be verified instantly, with very little risk of fraud or chargebacks. “As our markets have rapidly evolved from largely cash-based to cashless, consumer culture has undergone a dramatic shift,” said Andrew Meimes, Citcon VP, Head of APAC. “Merchants need the functionality to integrate into the new shopping and commerce models in these markets and the cultural insights to optimize their presence with the consumers they wish to engage.”

CITCON Web Traffic

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CITCON Rank

  • When was CITCON founded?

    CITCON was founded in 2015.

  • Where is CITCON's headquarters?

    CITCON's headquarters is located at 2001 Gateway Place, San Jose.

  • What is CITCON's latest funding round?

    CITCON's latest funding round is Convertible Note.

  • How much did CITCON raise?

    CITCON raised a total of $50M.

  • Who are the investors of CITCON?

    Investors of CITCON include Norwest Venture Partners, Sierra Ventures, Bright Pixel Capital, Cota Capital, ZheShang Venture Capital and 9 more.

  • Who are CITCON's competitors?

    Competitors of CITCON include Pockyt.

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Adyen

Adyen provides an internet payment system for international merchants. The company helps merchants accept payments from consumers and the company focuses on maximizing payment conversion and excellent reporting. Adyen supports relevant payment methods across Europe, USA, Asia and Latin America and continues to expand.

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