Daniel Shin is the co-CEO and founder of PortOne Global, an innovative team that is focused on payment orchestration and processing throughout the Asian markets. Established to help drive and empower digital commerce partners throughout the region, Daniel Shin has enjoyed a monumental role as a guiding voice along the way.
Recently, Daniel Shin stepped in front of the team at Business Review to discuss his work at PortOne as well as his thoughts on the future of payment processing and orchestration.
Importance of Payment Processing
Daniel Shin didn’t start with the payment processing industry, he first began working as an angel investor, and that would lead him to success with Ticket Monster (TMON). Shin’s experience with the platform would drive him toward the importance of providing a solution to payment processing.
Shin said of the struggles he had to overcome in his early years in the sector, “The problem previously was that providing more payment options came at the expense of the engineering burden.”
Shin went on to say, “With PortOne, eCommerce businesses can leverage 100+ options without any more engineering work than connecting to 1 payment option.”
Benefits of a Good Payment Solution
When shopping around for payment solutions in today’s digitally driven world, Shin suggests focusing on a few key and imperative benefits. With PortOne, Daniel Shin suggests that businesses can enjoy
- Streamlined Sales Conversions – Selecting a payment services provider with a large and established reach can help to scale an online business. PortOne empowers businesses to offer many familiar methods of payment processing so that their customers can find the right match for their needs.
- Reliable Transactions – Additionally, an eCommerce business will thrive when it can offer reliable transactions that occur without delays or processing errors. In the unlikely event of an issue, a good payment solution will reroute the purchase to save the sale.
- Encourage Repeated Sales – Finally, a smooth eCommerce system will empower customers to come back for repeated sales. Efficient payment services play a huge role in fostering a positive relationship with shoppers.
Shin went on to point out that these benefits can lead not just to improved sales but to increased cost-saving measures along the way. Shin would say in his interview with the Business Review team, “It is important, especially in a less frothy economy like now, to save costs where possible. PortOne allows merchants to scale without having to scale engineering teams.”
About the Work of Daniel Shin
Daniel Shin found early success in the industry after establishing Ticket Monster in 2010. The company would quickly grow into Korea’s second-largest mobile commerce business. This would lead to the founding of Fast Track Asia, a business incubator that has since helped to launch five rapidly growing companies.
Comments are closed.