TOKYO | GMO Payment Gateway launches its payment processing service, GMO-PG Global Payment, in Thailand. This subsidiary of GMO Payment Gateway is the fifth oversea entity following Singapore, Hong Kong, Malaysia and Taiwan.
GMO partners with 2C2P
GMO-PG is currently expanding its business into Thailand and in conjunction with this expansion, the company is forming a business alliance with 2C2P, payment service provider in South East Asia 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.
Japanese ecommerce drives GMO's market entry
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. Though the political instability, Thailand made 10 times economic growth over the past 30 years. In the last two years the number of Japanese companies doing business in Thailand has increased by approximately 25% to reach 3,924 companies and the increase in companies entering the Thai market is expected to continue going forward; consequently the online business market including ecommerce and computer games/digital content sales, etc. is growing rapidly in Thailand.
GMO-PG plans to expand services by establishing local entities and branches in Southeast Asia. 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.
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. 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 local retailers participate, ATM payment and online banking service.
2C2P (Cash and Card Payment Processor) is a comprehensive payment solutions provider, transforming millions of everyday payments in Asia-Pacific. The company offers solutions from traditional payment gateway to alternative cash payment processing, as well as variety of innovative payment solutions tailored for the needs of e-commerce and m-commerce merchants, banks and financial institutions of any size. 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. For more information, visit http://www.2c2p.com.