Tokyo-Bangkok Based OPN 120M Series C
Introduction
Tokyo-Bangkok Based OPN (Open Pay Network) is a fintech company that specializes in payment solutions. The company has recently completed a US$120 million Series C funding round, backed by a mix of venture capital firms, financial institutes and strategic partners from Japan, Thailand, and the U.S. OPN provides its customers with solutions that enable the secure, efficient, and cost-effective transfers of funds between payment parties.
Overview
The series C round was led by SoftBank Group Corp.’s venture capital unit, SoftBank Ventures Asia, along with institutional investors including Sompo Holdings, MUFG Innovation Partners, and PYMNTS.com. The new OPN customers, from the banking sector, include Sumitomo Mitsui Banking Corporation, Mizuho Bank and Shinsei Bank, among others.
OPN will use this new funding to build out its API-based solutions and expand the network of bank partners. This will enable the company to make fintech innovations available to organizations in both Japan and Thailand, as well as in other markets. The company will also focus on growing its customer base and scaling up operations.
Product Offerings
OPN’s products provide users with secure, efficient and cost-effective transactions that enable a seamless experience both online and in-store. OPN’s product range consists of three core products:
- Convenience – A contactless payment system designed to enable quick and seamless payments.
- Premium – A blockchain-based payments platform that allows customers to make payments with their financial institution’s debit cards, Apple Pay, or Samsung Pay.
- Business – A payment platform for businesses, which allows instant payments with a low transaction fee.
In addition to these three products, OPN is also working on open API integration to develop new solutions such as Autopay that allow customers to automate their payments.
Related Examples
OPN has been used by many companies and institutions in Japan and Thailand. One such example is Shinsei Bank, who has been using the OPN platform since 2018. Shinsei Bank has incorporated OPN’s Convenience and Premium products into their payments system, allowing customers to make payments on their debit cards, Apple Pay or Samsung Pay. Another example is Sompo Holdings, a major financial institution in both Japan and Thailand. Sompo Holdings is using the OPN platform to allow their customers to make payments with their bank cards and to transfer funds between accounts.
FAQs
Q1: What is OPN?
A1: OPN (Open Pay Network) is a fintech company that specializes in payment solutions. OPN provides services that enables secure, efficient and cost-effective transactions between payment systems.
Q2: What products does OPN offer?
A2: OPN offers three core products – Convenience, Premium, and Business. In addition to these, OPN is also working on open API integration to develop new solutions such as Autopay.
Q3: Who are OPN’s customers?
A3: OPN’s customers include banking institutions like Sumitomo Mitsui Banking Corporation, Mizuho Bank and Shinsei Bank, as well as major financial institutions like Sompo Holdings.
Q4: What are the benefits of using OPN?
A4: Using OPN enables customers to make secure, efficient and cost-effective payments both online and in-store. OPN also allows customers to automate their payments with its Autopay feature.
