Limepay has announced the appointment of Willie Pang to CEO, effective immediately. Pang’s appointment comes as the digital payments company embarks on a renewed business strategy to maximise its unique market position.
Since 2018, Limepay has pioneered a new category of digital payments: White-label enablement. In FT Partners’ Fintech Industry Research Report on BNPL (July 2021), Limepay was named as the only white label BNPL payments enablement company in Oceania in this category. White-label enablement allows brands to offer comprehensive payment solutions that keep customers on the same platform during the entire path-to-purchase, instead of redirecting them to third-party providers.
At Limepay, Pang will drive the business’ vision to be an innovative digital payments platform that gives control, knowledge and ownership of the customer experience back to brands. Pang will also be responsible for the success of Limepay’s innovative solutions across the globe. This innovation will focus on enabling merchants and partners to transition and evolve in response to ever-changing customer demands, such as flexible and interest-free financing options in addition to a seamless checkout experience.
“Limepay has always set out to do something different; to flip the digital payments landscape on its head. Our broader mission is to empower brands to build longer, stronger and ultimately more loyal customer relationships. We now have a renewed commitment to providing solutions beyond BNPL – including pay in full, pay later, pay in installments, subscription and in-store options – so brands can own the entire payments experience for their customers,” said Pang.
As the market potential of digital payments has continued to accelerate, Limepay’s track record in pioneering white-label enablement is already achieving great success. To date, Limepay has delivered over 1,100% in underlying merchant sales (UMS) YoY growth for FY21 vs FY20 and has over 100 active merchants including Accor Plus, Puma, Sportitude, Ecosa and The Block Shop, and in January, launched its first vertical partnership with Domain Group (ASX: DHG), creating MarketNow to service the real estate industry.
“The ecommerce industry is fierce, brands will lose out if they cannot provide the flexibility customers want during the checkout process. According to a Canstar study, almost 3 in 4 (70 percent) of Australians abandon their online shopping carts, that’s not without impact on brands and their businesses. For brands to win in this environment they need to provide a frictionless customer experience and optimise their speed to data. This data includes purchase intent and propensity, arguably the most powerful type of customer data, for brands today,” said Pang.
Based in Sydney, Pang is an industry veteran within the Australian media, marketing and technology sectors. He brings over 20 years’ experience to the role – spanning eight different markets including the US, UK and China – and was most recently managing director at GroupM and prior to that, CEO at MediaCom. As CEO, Pang will also continue as acting executive chairman having been appointed to that role earlier this year.
Co-founder and director, Tim Dwyer, in his new role as chief innovation officer said: “At a time where everyone is embracing digital payments at fever pitch, Limepay is perfectly positioned as a white-label payment enabler to serve customers in the ways they want to pay now and in the future. Willie has extensive experience and deep expertise in building digital technologies with customer experience at the heart. We’re excited to have him as part of the family.”
Josh Edis, chief operating officer, co-founder and director of Limepay said: “Enabling better customer experiences by giving brands greater control over their payments and data ecosystem is at the heart of Limepay’s unique value proposition. As a trusted industry champion for building engagement and loyalty between brands and their customers, Willie is exceptionally well placed to take this brand-first payments proposition to a global audience.”
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