Collaborating with Orico to provide "Orico BtoB Early Payment byGMO"Collaborating with Orico to provide "Orico BtoB Early Payment by GMO" ~Supporting business financing through factoring~
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May 2, 2024
GMO Payment Gateway, Inc.
GMO Payment Gateway, Inc. (TSE Prime Market: Securities Code: 3769, President & Chief Executive Officer: Issei Ainoura hereinafter referred to as "GMO-PG"), which develops comprehensive payment-related services and finance-related services in the GMO Internet Group, will collaborate with Orient Corporation (TSE Prime Market: Securities Code: 8585, President and Representative Director: Tetsuo Iimori hereinafter referred to as "Orico") to provide "Orico BtoB Early Payment by GMO" to Orico's business partners from May 2, 2024 (Thursday). "Orico BtoB Early Payment by GMO" is a factoring service that allows GMO-PG to purchase receivables held by Orico's business partners in BtoB transactions (*1) to provide early funding.
(*1) There is a screening prescribed by GMO-PG for use. It may not be available depending on the results of the review.
【Background and Summary】
The amendment to the Civil Code that came into effect in April 2020 has made it easier for businesses to raise funds using receivables. In October 2022, factoring is being used as one of the means of fundraising, with the establishment of Japan Online Factoring Association (OFA) as an organization to develop industry guidelines and publicize and raise awareness of correct information. In order to support BtoB businesses from a financial perspective, GMO-PG offers "GMO B2B Early Payment (factoring)" in which GMO-PG buys accounts receivable to quickly monetize the accounts receivable of the business, and "GMO B2B AR Guarantee" in which GMO-PG pays the uncollected amount in the event of an uncollected accounts receivable. In addition, in order to support more BtoB businesses, we are collaborating with financial institution and actively supporting the expansion of the financing services that financial institution develops for business partners. On the other hand, Orico, a major credit sales company, is developing services to support financing and cash flow improvement for corporations and sole proprietors. As Orico adds factoring to its service lineup, GMO-PG will collaborate with Orico to provide "Orico BtoB Early Payment by GMO" based on "GMO B2B Early Payment (factoring)". GMO-PG will continue to provide financial services that support the growth and operational efficiency of businesses in a multifaceted manner.
We provide services based on payment that support online, cashless, DX, etc. The annual Transaction value exceeds 15 trillion yen, and Online Payment Service has been introduced to more than 150,000 merchants, including e-commerce businesses and public entity such as NHK and National Tax Agency. As a leading company in the payment industry, we provide payment services in the Online Payment Service and face-to-face areas, buy now pay later BNPL (Buy Now Pay Later), financial institution BaaS Support to operating companies, strategic investment and financing to overseas advanced FinTech companies, etc., payment & finance We will drive social innovation through technology and contribute to the realization of a sustainable society and the progress and development of society. (As of the end of December 2023, consolidated figures)
【GMO Payment Gateway, Inc.】
GMO Payment Gateway, Inc. provides payment-related services that support the customer's online and cashless migration and digital transformation (DX). Annual transaction value exceeds 15 trillion yen and our online comprehensive payment services have been adopted by over 150,000 merchants such as EC operators and public institutions of NHK and National Tax Agency, etc. As the leading company in the payment industry, we contribute to the advancement and realization of a sustainable society by driving social innovations using payment and financial technology through our services, such as online comprehensive payment service, payment services in the offline market, Buy Now Pay Later (BNPL), BaaS Support services to financial institutions and enterprises and strategic investment and lending to overseas leading-edge FinTech companies. (As of end-Dec 2023, consolidated figures)
[Press Inquiries]
GMO Payment Gateway, Inc. Corporate Value Creation Strategy Division Public Relations/UX Design Department
GMO Payment Gateway, Inc. Industry Solutions Division Innovation Strategy Department, Strategic Business Sales Department Business-to-business payment groups
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