Not content to just be the dominant player in the Australian market, e-commerce payment gateway service provider Camtech has made its first steps towards taking on the Asian market by launching the service in Malaysia.
According to Brice Linn, CEO of Camtech, the gateway will initially only be servicing Malaysian clients but the company will endeavour to expand that coverage into other countries in the region as the market grows.
"This will be our Asian regional gateway and a springboard to future growth in the region," Linn said of the gateway which technically can service all of Asia.
He said the whole market for gateways that approve credit card transactions for Internet purchases is still in its embryonic stages and the market is still determining where the growth is going to come from.
"At this stage we won't be aiming to set up numerous gateways all over Asia and technically it is feasible to have just one but the market will determine what happens next," said Linn. "Some organisations or national governments may want to have their own gateways.
"We just don't really know where the opportunities are going to come from. Things will be a lot clearer in a year. The market is still evolving and we are glad to be getting in early and establishing ourselves in Asia, which analysts are predicting to have a steep growth curve in e-commerce."
Linn also revealed that Camtech is in the process of refining its international business plan because so much has changed since the last one was penned 15 months ago.
"You will now see us focusing on the whole Pacific Rim which includes all of Asia, Australasia and North America," Linn said. "We are readying for explosive growth in this area and all the analysts are predicting just that."
Future development for Camtech is going to come from working on business-to-business applications instead of what has mainly been business-to-consumer applications to date.
"We expect to have some products aimed at ERP vendors and systems integrators ready by early next year," Linn said.