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Tag: club

  • Hard Rock Cafe to be reintroduced in Philippines

    Hard Rock Cafe to be reintroduced in Philippines

    Bistro Group has acquired the exclusive franchise for Hard Rock Cafe in the Philippines, planning to reintroduce the brand in the region after a year’s absence. The Hard Rock group has high hopes for the partnership given the new local partner’s proven performance in the “Western-driven market.”

    Area franchise development VP Steve Yang said: “The Bistro Group is a strong industry player and with its robust portfolio of brands as well as its track record for more than 20 years, we are confident that they will be a strong partner to help us take Hard Rock Cafe in the Philippines to the next level.”

    The new Hard Rock Cafe will open next month in a 653sqm space at the Conrad S Maison mall in Pasay City, with four to five branches potentially in the works for Cebu and Bonifacio Global City.

    “Putting Hard Rock inside a mall is in response to the current lifestyle trend and is one of the best locations we’ve seen in our operations,” Yang said.

    Hard Rock’s VP for franchise operations and development Anibal Fernandez said the company wants to expand its presence in high-growth markets frequented by locals and tourists.

    “Last year alone we launched cafes in Spain, Austria, South Africa, Andorra, Bolivia, India, Cambodia, Myanmar, Argentina and Nicaragua. In 2018 we are developing in Africa, Middle East, Europe, North and South America, South Asia and China, among others.”

  • 2C2P to Work with Diners Club International to Increase Acceptance

    2C2P to Work with Diners Club International to Increase Acceptance

    2C2P, the leading Southeast Asian (SEA) payments services company, and Diners Club International, a subsidiary of Discover Financial Services and part of the Discover Global Network, announced that 2C2P is a global acquirer for all cards running on the Discover Global Network. 2C2P’s SEA merchants can now tap Diners Club International, Discover and other Discover Global Network cards as an additional payment method. 2C2P will increase acceptance in the SEA region allowing Discover Global Network cardholders to use their cards at an increased number of merchants in the region. 

    2C2P will provide its merchants with single-source electronic payment services for the acceptance of Discover Global Network, which includes Discover cards from the United States, Diners Club International as well as its affiliate cards such as BC Global Card from South Korea, Elo Card from Brazil and RuPay from India.

    Aung Kyaw Moe, founder and Group CEO of 2C2P, said: “With the rise in global online retail and tourism, this agreement opens up key international travel and entertainment markets such as Asia, Europe and the U.S. to our Southeast Asian merchants. Cardholders from Discover Global Network can now enjoy payments access to the region’s travel, transport, tourism, retail and e-commerce brands.”

    “Discover Global Network continues to increase our merchant acceptance footprint in Southeast Asia through working with companies such as 2C2P because this region has an increasing number of Discover Global Network cardholders as a result of our Diners Club and RuPay networks,” said Ricardo Leite, vice president, Discover Global Network. “2C2P specializes in e-commerce travel merchants, an important sector to our cardholders.”

    McKinsey estimates the annual revenue of the global payments market is expected to increase by six percent from 2015 to 2020, exceeding US$2 trillion by 2020. The Asia Pacific region, including China, accounts for approximately 55 percent of the industry’s revenue growth worldwide. 

    Discover Global Network is the third largest payments network in the world1. With over 39 million merchant acceptance locations and 1.9 million ATM and cash access locations across 185 countries and territories, Discover Global Network includes Discover, Diners Club International, PULSE and affiliated networks.

    “2C2P continues to look for market-leading partners around the world, to deploy its best-in-class online payments processing solutions and make it easier for consumers to transact with the payment instrument of their choice,” added Aung.

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  • Indonesia to Have 151,000 Millionaires by 2020

    Indonesia to Have 151,000 Millionaires by 2020

    Research institute Credit Suisse released its 2015 Global Wealth Report, in which it projects that Indonesia would have 151,000 millionaires by 2020. This projected number is an increase of 54 percent from today’s 98,000 people.

    The increase, the report says, will happen simultaneously with the increase of Indonesians’ average wealth by more than three times in US dollars and five times in rupiah.

    Credit Suisse categorized millionaires as people with a net worth of over US$1 million. If we use the rupiah, these people would be considered billionaires as a million UD dollar is roughly worth Rp14 billion.

    For this year, Credit Suisse said that there are 987 Indonesian individuals with net worth exceeding US$50 million (Rp. 700 trillion), an 8.9 percent increase from last year. This places Indonesia at the 19th spot of the world’s top 20 countries with the most number of wealthy individuals.

    Credit Suisse claimed that the number of Indonesia’s dollar millionaires has increased by five times since the year 2000, which reflects rising inequality, seeing how the country’s rich and middle class is only 4.4 percent of the 250-million population.

    Meanwhile, Forbes placed Budi and Michael Hartono as Indonesia’s richest individuals. The Djarum Group bosses have a combined asset worth of US$15.4 billion or around Rp212.8 trillion. Coming at number two is Susilo Wonowidjojo—also a tobacco tycoon; owner of PT Gudang Garam Tbk—with US$5.5 billion (Rp. 76 trillion). The third spot is currently secured by Salim Group owner Anthoni Salim with a net worth of US$5.4 billion (Rp74.6 trillion).

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