This prestigious award recognises a groundbreaking and/or impactful innovation within the payments industry developed by a promising start-up company.

It can be an innovative solution for part of the payments value chain that is showing a high impact on one or more of the key payment industry objectives, such as, but not limited to, achieving faster, safer, cheaper, more transparent, and inclusive payments services across the Asia Pacific.

Solutions can address various aspects of the payments ecosystem, including:

• • Transaction processing: Efficiency, security, speed, cost reduction
  • Customer experience: Convenience, user-friendliness, accessibility
  • Merchant experience: Streamlined integration, data insights, fraud prevention
  • Financial inclusion: Expanding access to financial services for underserved communities
  • Emerging technologies: Leveraging AI, blockchain, biometrics, etc., to enhance payment systems

Describe and provide proof/reasoning as to how the solution/initiative/product has or may impacted the Payments industry in the future.   

Entry eligibility  

• Early-stage companies with a demonstrably innovative solution related to payments, launched within the past 3 years, in one or several Asia Pacific markets. 
• It can be a pilot that provide evidence of effectiveness.

To make a submission please provide the following information:

Nominee or nominator

• Entry name
• Name of nominating organisation 
• Name(s) of nominated organisation(s) 
• The nature of the business relationship between you as the nominator and the nominee company’s solution description 

Submission format

Your entry is done digitally via APAC Payments Excellence Awards Website, by submitting a written description of your product/solution/initiative using selected category criteria.

Each criteria in your submission will be evaluated and scored by judges in your Category Judge Panel. Each criteria have a 300-word limit. Provide as much information as you can and quote the source of that information to describe the solution, success measures and what was achieved. Note that no attachments are allowed, and website links will not be seen as part of a submission.

Best Payments start-up Innovation Judge Criteria

Describe your Innovative initiative under each criteria section.

1. Solution description

Describe the innovative initiative/solution, including the issue/problem statement, set goals and what has been developed. Is it part of a payments service, product, or process? Was the solution offered to a single provider in the market or to a wide range of companies? If it is a pilot include details around the pilot. Include timelines.

2. Originality and novelty

Explain how your solution is demonstrating a unique and creative approach to a pressing challenge within the payments landscape.

3. Market traction

Describe what uptake the solution has had, early signs of user adoption, merchant interest, or industry recognition. How has your initiative/solution delivered better payment solutions, solutions, insights or results to customers, consumers, and stakeholders? What goals were achieved? Provide measurements and proof of the result.

4. Scalability

Explain how the solution/initiative possesses the potential to be scaled and adopted by a wider audience and/or other APAC markets. What is the growth potential (organic and cross-sector)? How is your business model better than others? How does the solution offer stand out from its competition?

Evidence of success – metrics

Please provide as much information as you can and quote the source of that information. Such information might include the following, but this is not an exhaustive list and, in each case, the judges will be looking for evidence that supports your claims about the key benefits of the initiative/solution/process:

• User/stakeholder feedback: Feedback from users or other stakeholders regarding their experience with the services offered, including the number of unique participants using the solution.
• Growth and transformation: Growth in usage, both historical and extrapolated projections, and evidence of how the solution has transformed the area addressed by the solution in the payment experience. Additionally, evidence of the innovative nature of the product/solution.

Please note that data shared is treated confidentially and not disclosed outside the immediate Category Judging Panel and the APAC Payments Excellence Award team.

Innovative definition

To be defined as innovative we are looking for the creation, development and implementation of a new product, process, or service, which has improved efficiency, effectiveness, access or competitive advantage. The entry is detailing something totally new or has a new approach to an existing challenge.