Beam is building a one-click checkout solution that enables a frictionless payment experience for sellers and shoppers in Southeast Asia.
E-commerce is fast evolving beyond centralized marketplaces and online storefronts are now everywhere, including social media channels and messaging apps like Instagram, TikTok, and WhatsApp. Although the shopping experience is instantaneous, the checkout process for both e-commerce and social commerce is fraught with friction. Currently, there is no ‘one-click’ solution to payments across all platforms. Shoppers have to fill out forms, enter personal information, create an account and, in some cases, leverage banking apps and wallets to pay on many social media stores and e-commerce platforms. They typically go through multiple clicks and redirects to complete a transaction. This leads to a dissatisfying shopping experience and can result in lower sales conversion and loyalty.
Beam has taken a research-based approach to understand each friction point in a shopper’s online payment experience to deliver the simplest ways to checkout for all major payment methods. The company offers one-click checkout solutions and manages payment processing for sellers. The result is a better user experience leading to increased revenue, low fees per transaction, and zero hidden costs. Beam has already partnered with a number of local and globally renowned brands and their exclusive distributors.
Beam was founded in 2019 in Bangkok by Mike Chinakrit Piamchon, Nattapat Chaimanowong and Win Vareekasem. Mike, who has a decade of experience in retail e-commerce in the United States and Southeast Asia, hails from San Francisco and holds a degree in psychology and economics. Nattapat majored in chemical engineering at the University of Cambridge, and went on to earn a computer science degree from Imperial College London and a master’s in finance from London School of Economics. He then worked for Arm UK as a software engineer. Win graduated as an aerospace engineer from Bristol and spent five years as a management consultant with Roland Berger in Europe and Southeast Asia.