TOKYO, Aug. 19, 2015 (GLOBE NEWSWIRE) -- GMO Payment Gateway, Inc. invested US$1 million via GMO Global Payment Fund*1 in its capital and business alliance with major Taiwan online payment service provider, Neweb Technologies Co., Ltd.
GMO-PG first partnered with Neweb in March 2014, providing global payment system service GMO-PG Global Payment*2 in Taiwan. The enhanced partnership expands business in Greater China and introduces Neweb services to Japan.
*1. First Japanese investment fund Japan for Southeast Asian payment ventures by GMO-PG and GMO Venture Partners.
*2. Global payment system services for Japanese ecommerce businesses. Local currency credit card and local payment methods.
GMO-PG has local companies in Singapore, Hong Kong, Taiwan, Malaysia and Thailand. Each provides GMO-PG Global Payment to Japanese ecommerce businesses expanding into local regions and surrounding markets. GMO Global Payment Fund invests in capital and business alliances with promising local payment startups. The two businesses, in synergy advance expansion in Greater China.
Greater China drives growth in Asia. In February 2014, GMO-PG established a Taiwan local presence as a branch of its Hong Kong subsidiary, forming an alliance with Neweb providing GMO-PG Global Payment to clients including Asian Basis Taiwan.
Forecast to reach NT$ 1 trillion*3 in 2015 and continue growing, the Taiwan ecommerce market shows yearly double-digit growth.
GMO-PG invested in Neweb to accelerate growth in Greater China including Taiwan. In addition to expanding GMO-PG Global Payment sales and strengthening Taiwan support for products sold by GMO-PG merchants, GMO-PG will introduce Neweb services to Japan, in the mid-to-long-term.
*3. Institute for Information Industry, Ministry of Economic Affairs, R.O.C.
Neweb Technologies
Neweb Technologies is a major online payment service provider in Taiwan providing payment services to most major ecommerce sites including music distribution and recruiting sites. With over 4,000 merchants and experienced management, Neweb Technologies provides payment services, develops payment solutions for Taiwan banks and supports Internet retailing for Chinese consumers.
GMO Payment Gateway
GMO Payment Gateway (TSE:3769), an innovation leader and key contributor to ecommerce growth and development, is Japan's largest online payment provider, providing transaction payment processing services including credit card to over 57,000 merchants (6/2015) including online stores, recurring-fee businesses like NHK, and public institutions like Japan Pension Service and Tokyo Metropolitan Government, totaling over JPY1.5 trillion (US$12 billion) annual transactions. GMO-PG services are safe and convenient for business and consumers.