GMO Payment Gateway Inc (GMO-PG), a Japanese non-face-to-face payment processing service provider, has established its third and fourth overseas entities in Malaysia and Taiwan respectively.
The local entity in Malaysia is known as GMO PAYMENT GATEWAY MALAYSIA SDN.BHD while the Taiwan entity is a branch of GMO PAYMENT GATEWAY HONG KONG LIMITED. The company also has an entity in Hong Kong and a subsidiary in Singapore.
All entities will 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.
According to the company, Malaysia and Taiwan were chosen as those countries were found to have a high demand for the services of Japanese e-commerce stores and digital content provider. Moreover for Taiwan, its e-commerce market is projected to grow to NT$1 trillion (US$32.74 billion) by 2015. Small-scale logistics companies in Taiwan have also formed relationships with Japanese logistics companies.
GMO-PG plans to expand its services by establishing local entities and branches in Southeast Asia including Indonesia and Thailand. It will also continue to foster business alliances with local partners so that it will be able to provide the most popular payment methods in each region.