We combine our domestic mature business with those overseas for further promotion and application,by providing diverse business in Thailand,Korea,Japan and Singapore,ultimately we can achieve the Pan-Asian payment integration.
Through the integration of our mature domestic business, we will expand and grow our overseas business. By providing a myriad of services in Thailand, Korea, Japan, and Singapore, we ultimately aim to achieve Pan-Asian payment integration.
The acquiring business is a core activity of Smartpay’s overseas business, and Smartpay currently has a 40% market share for Unionpay acceptance in Thailand. We work with several of the largest duty free shops in the region, such as Japan’s LAOX and Thailand’s King Power, and provide Smart POS, acquiring and e-voucher solutions, as well as a global supply chain system.
In Singapore, we are collaborating with NETS [Network for Electronic Transfers (Singapore)], to upgrade their payment terminals with a Smart POS system. Also, there is a further collaboration to jointly distribute a travel card, which can be used on existing NETS infrastructure, and provide discounts at various participating merchants. With this as a basis, there are plans to launch a tourist card which encompasses Southeast Asia and can be used on public transport as well as payments. Open Union’s domestic business model will then be replicated in the overseas market.