March 13, 2014
- GMO Payment Gateway
Global Payment Processing Service, GMO-PG Global Payment, Launches in Taiwan
GMO-PG to establish the fourth oversea entity in Taiwan
Tokyo – March 13, 2014 –GMO Internet Group non-face-to-face payment processing company, GMO Payment Gateway Inc. (TSE1:3769), announces the launch of global payment processing service, GMO-PG Global Payment, in Taiwan.
GMO-PG provide GMO-PG Global Payment solutions to Japanese non-face-to-face businesses and has been developing plans to expand services globally, with a focus on Asia. The Taiwan branch of GMO PAYMENT GATEWAY HONG KONG LIMITED is the fourth oversea entity.
GMO-PG established Singapore subsidiary, GMO PAYMENT GATEWAY PTE. LTD. in October 2012 to provide GMO-PG Global Payment solutions to Japanese non-face-to-face businesses with a local presence and targeting local markets in South East Asia. The company has been providing GMO-PG Global Payment through GMO PAYMENT GATEWAY PTE. LTD., GMO PAYMENT GATEWAY HONG KONG LIMITED , and
GMO PAYMENT GATEWAY MALAYSIA SDN.BHD.
The company chose Taiwan as the location of its local entity after extensive market research revealed high demand for the service of Japanese ecommerce stores and digital content provider. The ecommerce market in Taiwan is projected to continue double digits growth and expand to TWD1 trillion (about ¥3.4 trillion) (*1) by 2015. With regard to logistics, all small-scale logistics companies in Taiwan has formed relationships with Japanese logistics companies.
GMO-PG recognized Taiwan as important location in Asia, established the branch of GMO PAYMENT GATEWAY HONG KONG LIMITED in February 2014, and start to provide GMO-PG Global Payment solutions.
GMO-PG plans to expand services by establishing local entities and branches in Southeast Asia including Indonesia and Thailand in addition to Singapore, Hong Kong, Malaysia, and Taiwan. GMO-PG will also continue to foster business alliances with local partners that will enable us to provide the most popular payment methods in each region.
(*1) Source: Institute for Information Industry I, November 2012. TWD amounts are converted to Japanese yen using the TTM (telegraphic transfer middle exchange rate) as at March 11, 2014.
About GMO-PG Global Payment
GMO-PG Global Payment is a global online payment processing solution for Japanese ecommerce businesses with a local presence in one or more markets outside Japan(*2) By simply connecting to GMO-PG Global Platform, ecommerce businesses will be able to accept multiple payment methods in multiple countries.
GMO-PG will establish local entities or branches in every country covered by GMO-PG Global Platform and provide Japanese-language support to merchants including negotiation and operational support. All transactions will be processed in local currencies.
Furthermore, through collaboration with leading businesses in each country, GMO-PG will provide not only payment solutions, but everything necessary for a successful overseas expansion including delivery, promotion and marketing.
(*2)GMO-PG can only provide services within the limits of the law of each country and credit card regulations concerning cross border transactions.
About GMO Payment Gateway
GMO Payment Gateway, Inc. is a non-face-to-face payment processing service provider offering solutions including online transaction processing for online stores, social and smartphone content sellers, and processing of recurring payments NHK television license fees. The company also provides dedicated payment solutions for public institutions including Japan Pension Service and Tokyo Metropolitan Government. Our services are safe and convenient for both business and the consumer. As the largest payment processing service in Japan, GMO Payment Gateway is an innovation leader and key contributor to the growth and development ecommerce.
About GMO Internet Group
GMO Internet Group is a comprehensive provider of industry-leading Internet solutions including domain name registration, cloud-based and traditional hosting, ecommerce, security, and payment processing services that each hold the top share of their respective markets in Japan. Other key business areas for the Group include online securities/FX trading, Internet advertising, search engine marketing, and smartphone game development and publishing. GMO Internet, Inc. (TSE: 9449) is headquartered in Tokyo, Japan.