June 3, 2014
- GMO Payment Gateway
Global Payment Processing Service, GMO-PG Global Payment, Launches in Thailand
GMO-PG to establish the fifth oversea entity in Thailand
Tokyo – June 3, 2014 –GMO Internet Group non-face-to-face payment processing service provider, GMO Payment Gateway Inc. (TSE1:3769), announces the launch of global payment processing service, GMO-PG Global Payment, in Thailand.
GMO-PG provides 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 Thailand subsidiary of GMO PAYMENT GATEWAY (THAILAND) CO., LTD. is the fifth oversea entity following Singapore, Hong Kong, Malaysia and Taiwan.
GMO-PG is currently expanding its business into Thailand and in conjunction with this the company is forming a business alliance with 2C2P, the leading payment processing service provider of Thailand and a company in which GMO-PG holds an equity stake. At the same time GMO-PG is also receiving an equity investment from 2C2P in the Thailand subsidiary of GMO-PG.
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, Taiwan branch of Hong Kong subsidiary, and GMO PAYMENT GATEWAY MALAYSIA SDN.BHD.
GMO-PG chose Thailand as the location of its newest local entity after extensive market research revealed high demand for the service of Japanese ecommerce stores and digital content provider.In the last two years the number of Japanese companies doing business in Thailand has increased by approximately 25% to reach 3,924 companies(*1) and the increase in companies entering the Thai market is expected to continue going forward; consequently the non-face-to-face business market including ecommerce and computer games/digital content sales, is growing rapidly in Thailand.
At the beginning of May 2014, GMO-PG, aiming to build momentum for the expansion of its business in Thailand, formed a business alliance with 2C2P, the leading payment processing service provider in Thailand which provides payment processing services such as credit card payment processing and a cash receipt agency service. GMO-PG also received equity investments from 2C2P and other companies, and established a local subsidiary in Thailand.
GMO-PG plans to expand services by establishing local entities and branches in Southeast Asia including Indonesia etc. 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: Teikoku Databank
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(*3) 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.
As part of its current expansion of services in Thailand, GMO-PG is offering a credit card payment service and in addition, because the large majority of consumers in Thailand do not own a credit card, is also offering the cash receipt agency service in which more than 50,000(*5) local retailers participate, ATM payment and online banking service.
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.
(*4)GMO-PG can only provide services within the limits of the law of each country and credit card regulations concerning cross border transactions.
(*5) Source: 2C2P
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 2C2P
2C2P is the leading payment processing service provider of Thailand, offering credit card payments and other payment processing services, a cash receipt agency service in which more than 50,000 local retailers participate, and other services in Singapore, Malaysia, Hong Kong, Indonesia, the Philippines, Laos, Myanmar and Cambodia. The company provides its services to a large number of merchants. For example, it handles the payment service for non-face-to-face sales of the domestic and international air tickets of Thai Airways, the national flag carrier of Thailand. GMO PAYMENT GATEWAY PTE. LTD., a consolidated subsidiary of GMO-PG in Singapore, holds equity in 2C2P.
GMO Internet Group
GMO Internet Group is an Internet services industry leader, developing and operating Japan’s most widely used domain, hosting & cloud, ecommerce, security, and payment solutions. The Group also comprises the world’s largest online FX trading platform, as well as online advertising, Internet media, and mobile entertainment products. GMO Internet, Inc. (TSE: 9449) is headquartered in Tokyo, Japan.
Related URLs
・2C2P corporate website URL: http://www.2c2p.com/
・GMO-PG Global Payment URL:http://www.gmo-pg.com/service/gmo-pg_global_payment
・GMO-PG corporate website URL: http://corp.gmo-pg.com/
・GMO-PG service URL:http://www.gmo-pg.com/