Global Payment Processing Service Launches in Thailand.
GMO Internet Group online payment service provider, GMO Payment Gateway Inc. has recently announced the launch of global payment processing service, GMO-PG Global Payment, in Thailand.
GMO-PG provides GMO-PG Global Payment solutions to Japanese online businesses and has been developing plans to expand services globally, with a focus on Asia. The Thailand subsidiary of GMO Payment Gateway. 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 expansion, the company is forming a business alliance with 2C2P, the leading 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.
GMO-PG an established Singapore subsidiary, GMO Payment Gateway PTE. Ltd, during October 2012 has provided GMO-PG Global payment solution towards Japanese online businesses with a local presence and targeting local markets within South eas Asia. The company has been providing GMO-PG Global Payment through GMO Payment Gateway, GMO Gateway Hong Kong Limited, Taiwan branch of Hong Kong Subsidiary, and GMO Payment Gateway Malaysia.
GMO-PG has recently chosen Thailand as the location for its newest local entity after an extensive market research manage to reveal a high demand for the service of Japanese e-commerce stores and digital content provider. Though the current political instability, Thailand made 10 times the economic growth over the past 30 years. During the past two years the number of Japanese companies establishing business within Thailand has increased by approximately by 25% to reach 3,924 companies and increased in companies enter the Thai market is expect to continue going forwards; consequently the online business market includes e-commerce and computer games, digital content sales, etc. is continuously growing in a rapid pace in Thailand.
During the beginning of May 2014, GMO-PG aiming towards creating momentum for the expansion of its business towards Thailand, formed a business alliance with 2C2P, the leading payment service provider within Southeast Asia which provides payment processing service such as credit card payment processing and a cash collection service. GMO-PG also received equity investments from 2C2P and other companies, and established local subsidiary within Thailand.
GMO_PG plans to expand its service by establishing local entities and branching into Southeas Asia. In addition to Singapore, Hong Kong, Malaysia, and Taiwan. GMO-PG shall also continue to foster business alliance with local partner that will allow them to provide the mos popular payment methods in each region.