GMO-PG leads Investment in MobiKwik, One of Two Major Indian Mobile Wallet CompaniesInvested in MobiKwik, one of India's two largest mobile wallet companies
~MediaTek, one of the world's largest semiconductor design companies, joins investment with Sequoia India~

GMO Internet Group Develops Non-Face-to-Face Credit Card payment processing business GMO Payment Gateway, Inc. (TSE Partial: Securities Code: 3769, President & Chief Executive Officer: Issei Ainoura hereinafter referred to as "GMO-PG") announced on April 27, 2016 that through the payment specialized fund "GMO Global Payment Fund", We have invested in One Mobikwik Systems Private Limited (hereinafter referred to as "MobiKwik"), which develops mobile wallets ^(*1) in India.
GMO-PG recognizes India as a promising market and has decided to jointly invest in MobiKwik as a new strategic partner with MediaTek (Taiwan), one of the world's largest semiconductor design companies, as a lead investor, and with venture capital firm Sequoia India.

India has a population of 1.2 billion (2013) and a GDP of approximately US$2.2 trillion (2015), and is a huge market with a population of 1.4 billion and a GDP of US$3.4 trillion (*2) by 2020. In particular, the domestic e-commerce market is expanding rapidly, and is expected to grow from US$14 billion in 2015 to US$220 billion in 2025 ^(*3). As of October 2015, the number of mobile phone subscribers, including smartphones, exceeded 1 billion, and penetration rate of them are estimated to be more than 80% of the population ^(*4).​
On the other hand, in India, only about half of the population (* ⁵⁾ has a bank account, and less than 5% of the population has a credit card ^{penetration rate (*6)} Stay in. As a result, mobile wallets, which can be used to payment online stores, utility charge, and physical stores if you have a mobile phone such as a smartphone, are becoming more common as a payment method other than cash, and the market size is expected to reach US$6.6 billion by 2020 ^(*7).​
Therefore, GMO-PG has invested in MobiKwik, one of the country's two largest mobile wallet companies, through the GMO Global Payment Fund, in order to make a leading growth company in India a new strategic business partner. This investment will be a joint venture with MediaTek, one of the world's largest semiconductor design companies, as lead investor, and venture capital firm Sequoia India.

GMO-PG has established local subsidiaries at five bases in Singapore, Hong Kong, Taiwan, Malaysia, and Thailand, and is developing the overseas payment service "Z.com Payment" for Japan e-commerce businesses expanding into the region or surrounding areas, as well as a payment-specialized fund "GMO Global" targeting promising local payment-related businesses. We are promoting overseas strategy to expand our business in the Asian region while demonstrating synergies through our investment activities through the "Payment Fund".

<GMO Payment Gateway and GMO Global Payment Fund's main investment destinations in Asia>

A mobile wallet is a prepaid payment method that uses a smartphone or other mobile device. Users can charge their mobile devices with credit cards, online banking, cash, etc., and use them at payment stores such as online stores, utility charge, and physical stores. payment Authentication is done using the phone number and ID of the smartphone.
*2 International Monetary Fund (IMF) "Report for Selected Countries and Subjects"
（*3）INDIA BRAND EQUITY FOUNDATION「Retail Industry in India」
*4 Estimated by the Telecom Regulatory Authority of India, "Highlights of Telecom Subscription Data as on 31st October, 2015"
（*5）THE WORLD BANK「Global Findex database Account at a financial institution (% age 15+) [ts]」
（*6）THE WORLD BANK「Global Findex database Credit card (% age 15+) [ts]」
（*7）Research and Markets「India Mobile Wallet Market Forecast and Opportunities, 2020」

GMO Payment Gateway accepts payment processing services including credit cards to 65,652 merchants (as of December 2015 of the GMO Payment Gateway Group), including online businesses such as online shops and digital content, businesses that charge monthly fees such as NHK and subscription, and public entity such as the Japan Pension Service and the Tokyo Metropolitan Government. We provide. We aim to provide a safe and convenient payment for consumers and businesses, and to be the infrastructure for Japan payment processes. As a leading company in the payment industry, we will lead new innovations such as FinTech and contribute to improving the EC ratio of Japan.

MobiKwik

URL : https://www.mobikwik.com/

GMO-PG (Company Profile)

URL :https://corp.gmo-pg.com/en/

GMO-PG (Service)

URL :https://www.gmo-pg.com/en/