OTT Pay ends 2023 with significant milestones to propel the company to greater heights in 2024. With a new CEO at the helm and launch of product innovations, 2023 has been a banner year for OTT Pay benefiting its stakeholders, customers, and the broader community it serves.
GOING BEYOND CHINESE DIGITAL PAYMENTS
Topping the list of achievements was the launch of North American card acceptance, which includes Visa, Mastercard, and Interac, in addition to Chinese digital payments staple, WeChat Pay, Alipay and UnionPay. Soon, Diners Club, American Express (Amex), and Union Pay Card Present will be added into the roster of payment solutions.
CONSUMER SPENDING RETURNS TO PRE-COVID LEVELS
The year started with expected lukewarm spending across sectors; however, as the year progressed, consumer spending began to increase. By Black Friday, OTT Pay has seen spending among Chinese consumers returning to pre-Covid levels especially from the luxury and retail sectors. Their spending showed positive gains despite a downturn in the Canadian economy and inflationary challenges that put pressure on business and customer budgets throughout the year.
NEW LEADERSHIP AND GROWING LEAN
Despite 2023 being severely viewed as a recovery year following the pandemic, OTT hired a new CEO and grew its head count to significantly support its expansion. Blair Cameron joined OTT Pay as CEO for North America in July 2023. Cameron brings a wealth of executive leadership experience and payment expertise to OTT Pay. In prior roles, he was instrumental in leading LoyaltyOne to become a publicly traded company and in making the Air Miles Reward Program an integral part of the Canadian customer experience. In the meantime, an aggressive hiring campaign continues at OTT Pay for candidates with the unique skill sets required to meet the demands from the different facets of the business.
FORWARD TO 2024
OTT Pay will continue to introduce innovations in 2024 with the launch of new products in the pipeline. OTT Pay is focused on maintaining momentum and is excited to build on these achievements. It will continue to deliver high quality payment solutions in 2024.
To learn more about how OTT Pay payment innovations can help your business, contact one of our sales professionals today.