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Omise absorbs Paysbuy in online payment merger

Jul 06. 2017
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By The Nation

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Online payment technology service provider Omise is acquiring the payment services of Thailand’s Paysbuy. Paysbuy’s assets and services will be merged into Omise.

Founded in 2004, Paysbuy was one of Thailand’s first payment gateway service providers. The acquisition gives Omise a larger share of the market and promises to accelerate its growth in Southeast Asia.

Omise said in a press release the acquisition would also benefit innovations such as its recently unveiled OmiseGO (OMG) wallet. Paybuy’s well-established e-wallet service will turn OMG into a “decentralised wallet solution”, said Jun Hasegawa, chief executive and founder of Omise.

Andrew Kvalseth, chief strategy and digital officer at Dtac, said the merger of Paysbuy with Omise “brings together two of the strongest payment providers in the country – Paysbuy with its strengths in the depth of payment products and Omise with its innovative solution focusing on best customer experience”.

He said the combined entity would continue to be Dtac’s online payment-solution partner and help improve the online payment experience for Dtac customers. 

“This will be one of the key success factors for us to realise our ambition as the leading telco for online sales and service,” Andrew said.

During the transition, both companies’ merchants can continue to process as they are doing now.

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