ASEAN Innovation Application Case Studies OMISE – Provide Payment Services with Real-Time Transactions
OMISE – Provide Payment Services with Real-Time Transactions
The company Omise established a fintech platform. Anyone, no matter where they are, can easily use the platform, which provides payment services with real-time transactions.
Founded in 2013, Omise’s main business is using mobile apps and online payment to provide corporate clients with a payment management system. Omise’s alliance on payment in Thailand, in addition to cooperating with AliPay (Alibaba), is also the first payment institution to pass PCI DSS security certification, and meets the safety security standards of VISA, American Express, Discovery Financial Services, JCB and MasterCard International. Through blockchains, Omise plans to establish an OMG payment platform. For stores collaborating with Omise, clients can make payments with any kind of digital currency (e.g.BTC, ETH, or other currencies).。
(Second from the right is founder and CEO Jun Hasegawa)
Since its inception, the total amount of funds raised has reached approximately US$45.5 million.
- Round B financing US$25 million
[from ICO funded by James Sowers, and Andreas Schwartz in 2017]
- Round B financing US$17.5 million
[from Golden Gate Ventures, Ascend Venture Group, SMDV, and SBI Asset Management in 2016] * SBI(SBI Holdings, Inc) is an investment company under Japan’s Softbank.
- Round A financing US$2.6 million
[from 500 Startups, East Ventures, SMDV, Sinarmas, and True Incube in 2015]
Differentiation Strategy and Future Development
- OmiseGO has signed an agreement with McDonald’s in Thailand. In the future, McDonald’s in Thailand will be able to enjoy the payment service of OmiseGO.
- On June 2017, the company issued ICO through Bitcoin Suiss and the ICOAGE platform, and on July, 2017, issued tokens and raised US$25 million. In the future, OmiseGo can use ethereum platforms to connect the OmiseGo network, providing decentralized financial transaction functions, including financial transactions such as deposits, loans, and asset management.
- In the future, the asset function of blockchains will be applied to the needs of general companies, such as liquidation, integration, payment, and securitization, and establish an accessible and inclusive fintech platform to provide clients with real-time transaction and payment services.