TOKYO – November 10, 2023 – OPN Holdings Co., Ltd. (operating as Opn), the one-stop financial solutions company, announces a strategic collaboration with EASY BUY Public Company Limited, a non-bank personal loan provider (Umay+), to offer an innovative new loan disbursement method called "DREAMwallet," enhancing convenience for customers using Umay+ cash cards.
Under the Umay+ brand, EASY BUY, a subsidiary of Japan-based consumer finance company ACOM Co., Ltd., offers personal revolving and installment loans to over 2 million customers in Thailand. The company serves customers at its nearly 100 branches and through over 130 retail partners across the country.
“We are excited to work with EASY BUY to digitally transform our innovative services to deliver convenient and seamless experiences that customers expect today,” said Ezra Don Harinsut, co-founder and president of Opn. “Our comprehensive expertise and support will empower financial institutions and brands to thrive in the rapidly growing digital economy and enable them to grow their businesses further.”
Sompong Anekvisudwong, Executive Vice President of Corporate Planning & Coordination Department at EASY BUY, said, "The collaboration between EASY BUY and Opn, a provider of e-wallets, marks a significant milestone. This partnership leverages the strengths of both companies to introduce “DREAMwallet”, an innovative e-wallet solution. This new withdrawal method meets the evolving digital needs of our customers."
"Furthermore, this partnership will not only foster innovation but also pave the way for delivering the best possible services to Umay+ customers in the future. It aims to strengthen our continuous and sustainable growth objectives."
DREAMwallet deploys an e-wallet with an embedded line of credit provided by EASY BUY and is connected to Visa’s network. From signing up for the card and spending funds to tracking expenses and balances, all activities can be completed on a smartphone.
Unlike traditional consumer revolving loans, DREAMwallet does not require cash withdrawal for spending. Once approved, customers can quickly access their line of credit and start using the virtual prepaid card to pay for online and in-store purchases wherever Visa or Visa QR is accepted.
Nuchai Katkaew, Executive Vice President of Business Planning Department, and Customer Service Department at EASY BUY, added that "EASY BUY is confident that DREAMwallet will provide a new loan disbursement method that is highly secure and meets international standards. This will significantly enhance the convenience for Umay+ customers and allows them to carry out online transactions swiftly using their credit limits 24/7, aligning with the current lifestyle and financial preferences of individuals."
DREAMwallet is EASY BUY’s first fully digital personal loan offering. The consumer lending company has enlisted Opn to assist with the product development, encompassing technology, licensing and program management through its comprehensive card issuing solution. According to e-Conomy SEA 2022, the digital lending loan book in Thailand is expected to grow at a compound annual growth rate (CAGR) of 39%, reaching US$21 billion by 2025. E-commerce in the country is projected to grow at a CAGR of 13%, reaching US$32 billion by 2025.
To learn more about Opn’s card issuing solution, visit https://www.opn.ooo/th-en/products/card-issuing/
Founded in 2013, Opn specializes in one-stop online payment and digital transformation solutions used by thousands of merchants and businesses around the world, operating from Japan, Southeast Asia and the U.S. The company is a leader in payments in the Asia-Pacific region and a top 25 provider of payment processing in the U.S. Guided by a vision of enabling access to the digital economy for everyone, Opn connects people, businesses and society in innovative ways to provide open access to a growing economic ecosystem. Privately-held Opn’s major shareholders include Toyota Financial Services Corporation, the financial services arm of Toyota Motor Corporation, and SCB 10X, the venture capital arm of Siam Commercial Bank.
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EASY BUY Public Company Limited has been in operation since 1996, serving over 2 million customers nationwide. The company offers products such as revolving loans and installment loans. For more details, visit www.easybuy.co.th and www.umayplus.com.
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