112: Patrick Ngan, co-founder and CEO of QFPay International

Imagine being a vendor whose customers have varied payment preferences. One wants to pay with Alipay, another with WeChat Pay, still others with AirPay or Rabbit-LINE Pay. QFPay allows vendors to accept payment from multiple mobile wallets from a single app. Currently in 12 countries and looking to expand within Asia and beyond, QFPay is working on their Series C funding round.

Patrick, QFPay’s CEO, shares his background, introduces us to his personal pain addiction, shares about being an outsider in China, and gives stats and insights about Chinese tourists.

In today’s episode you’ll learn:

• Why Patrick left banking to pursue entrepreneurship
• About is QFPay
• Why QFPay is attractive to vendors
• Why Patrick wants QFPay to be number one in Asia before they expand into the European market
• If Crypto payments have a place in the QFPay app
• About Patrick’s philosophy of personal challenges and pain and how that’s manifested in his own life
• Patrick’s advice for aspiring entrepreneurs

The Jay Kim Show : Entrepreneurship | Investing | Startups

Patrick Ngan, co-founder and CEO of QFPay International

Play Episode Pause Episode

Mute/Unmute Episode Rewind 10 Seconds 1x Fast Forward 30 seconds

00:00 /

RSS Feed

Share

Link

Embed

Listen to this episode on iTunes

What was your biggest insight from this week’s episode? Let Jay know in the comments or on Twitter: @jaykimmer.

LINKS FROM TODAY’S EPISODE

• Read the full transcript from Patrick’s interview
• Find Patrick on LinkedIn, at Ironman and marathon races, and in airport lounges
• QFPay

DETAILED SHOW NOTES

• (2:07) Patrick’s brief introduction of himself and of QFPay.
• (4:40) Patrick explains why he left the corporate banking world to pursue entrepreneurship
• (6:27) Jay and Patrick talk about the challenges of being an outsider in China
• (9:25) Jay and Patrick discuss the personal challenges Patrick has taken on — including running marathons and the exclusive running club of which he’s a member
• (14:05) An overview of QFPay and how it is expanding across Asia.
• (18:48) Patrick explains the user experience from a consumer perspective
• (21:56) The QFPay revenue model
• (22:19) Why QFPay is attractive to vendors
• (25:23) Patrick addresses cryptocurrencies and its place in QFPay
• (27:22) Patrick’s upcoming plans and goals for QFPay
• (29:24) Patrick addresses the question of expanding outside of Asia
• (33:00) Patrick discloses the endurance sport he’s now pursuing
• (34:23) Patrick’s advice for aspiring entrepreneurs