50 Fastest Growing Private Companies to Watch 2016
Secure Global Payment Processing with Global Acceptance: Allied Wallet
‘Customized payment solutions to businesses of all sizes.’
Allied Wallet, Inc. is a provider of e-commerce merchant services and online payment processing services, enabling business owners to accept credit cards and other payments on their websites. The company has offices in Los Angeles, Germany, India, Macau, Hong Kong, and London. Allied Wallet was founded by businessman Andy Khawaja in California in 2002.
The company is a global leader in online credit card processing/payment processing, multi-currency merchant services, digital eWallet solutions, software development, and a provider of a PCI Level 1 payment gateway. Allied Wallet continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive international payments. With PCI compliant merchant services for nearly any business size, Allied Wallet provides a state-of-the-art payment gateway to optimize online transactions for any company.
The company uses persistent monitoring to keep each of its accounts safe, protecting merchants and their customers from potential fraud activity. “We offer 24/7 support service for your customers, and 24/7 technical support for you. With this level of service, you might be shocked to hear that our system is so easy to implement that we’re able to empower new merchants with success and profitability that comes with their new Allied Wallet account within 12 hours,” says Andy Khawaja, CEO.
In conversation with the Key Executive
How has the shift in technology been for you?
There have been lot of developments going on in the technology space today especially in the US and India. So, a huge challenge for us is keeping up to the changing requirements of our clients across the B2B and cyber security space.
What do you think are the key concerns for an e-commerce business?
Credit card usage is a very important concern for anyone in this business arena. Ensuring security is of utmost importance for seamless online transactions. So having state of the art technology such as PCI Level 1 Compliance is essential today. For example, Allied Wallet’s Next Generation platform – a virtual platform, ensures this. It is certified and all that the client needs to do is fix their security codes and password and the rest is taken care of by us.
Do you notice any competitors in the market?
PayPal is a probable head to head competitor. But they have a different infrastructure and we have a global approach with different capabilities and better flexibility. That apart, we notice a lot of companies coming and going. It takes a lot of patience to stick around and maintain a business and after the initial enthusiasm fades way, very few enterprises manage to retain their position in the market. In the past five years alone, more than 1200 e-commerce start ups were established and then exited from the market, especially after the financial crisis in the world economy. But that tells you that there are entrepreneurs eager to get e-commerce companies up and running. There is definitely talent and vision, but what is required more, is security.
Where do you see your future market lying in, if you have any plans of expansion? Do you think there should be any regulatory or policy changes in the approach towards e-commerce businesses?
India, Brazil, and the Gulf region are progressing very fast in the e-commerce space as their access to Wi-Fi, internet, digital money, talented individuals, etc, keeps increasing. In fact by 2020, there will be huge market gains from these regions and we definitely want to be a part of this move. And as far as the market environment is concerned, I firmly believe there should be more flexibility in terms of the bank’s approach to e-commerce. There is a lack of understanding as to what the business actually is and have not invested in this technology itself – the gateway platform and rely on outsourced companies like First Data for their requirements. They should experiment and avail facilities from companies like us.
Why should people choose Allied Wallet?
Unlike other companies in the market, we provide one simple API which gives you access to everything such as Virtual Wallet, Mobile Payment, API, 85 Shopping Carts where millions of consumers are transacting daily and dedicated API like Stripe. So you have all these giant companies with millions of customers all in one platform—Allied Wallet.
Can you tell us some of the achievements of your company?
We are growing at the rate of 200-500% on a yearly level and the reason is because we are expanding more jurisdictions. Our focus is on the global market and not on one country. We do things that no one in the business has ever done, and that’s why we are number one in the market today. We have been awarded 20 times in the last 3 years – the best processor in America, the number one processor in Asia and the world. We have won around 67 trophies so far and all this is due to our hard work, dedication, trust, the delivery that we provide to merchants and customers and that makes us a unicorn!
Coming to employee satisfaction, we were rated the 3rd best company to work for in the world by the Fortune magazine. We even beat Google which came 6th in the list.
Meet the Master
Andy Khawaja, CEO: Since founding Allied Wallet in 2002, Andy has led the company with passion, integrity, and an emphasis on quality and functionality. His specialties include International Expansion, Enthusiastic Leadership, Innovative Foresight, Strategic Planning and New Business Acquisition. “We work from the heart, so you can rest assured we will see continued success,” said Andy. “With locations in several countries to service our global clientele, my beloved team is only growing stronger and seeing more success with each passing day. I’m proud of our accomplishments and I know Allied Wallet will continue to thrive,” he concluded.