Bangkok-based BuzzCommerce announced that it has integrated a multiple payment solution from Japan’s GMO Payment Gateway (GMO-PG, TSE:3769). The Thai startup allows users to pay for cosmetics purchases via its e-commerce and media sites. Use of credit cards, banking transactions and convenience store payments has been enabled.
Saroop, the company’s media site, has acquired over 390,000 likes on its Facebook fan page, providing resources and tips on beauty as well as allowing users to buy items introduced on the website. GMO-PG started providing multiple payment solution called GMO-PG Global Payment in July, in partnership with Thailand’s payment processing company 2C2P which has been invested by GMO-PG. With this implementation, Saroop’s users can pay via credit cards, ATM and online banking at Thai major banks like Bangkok Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Thanachart Bank, United Overseas Bank, CIMB Thai Bank, Bank of Ayutthaya, as well as storefront payments at Family Mart convenience stores in Thailand.
The penetration rate of credit cards in Asia is quite low, which has hampered e-commerce companies to run their business in a better way in this region. However, BuzzCommerce will overcome this obstacle by implementing the payment solution so that they can expand their business more quickly.
BuzzCommerce was launched in Bangkok in April this year, and subsequently fundraised an undisclosed sum of investment from East Ventures in May.