Omise has become a direct acquirer for Visa and Mastercard in Thailand.
The status allows the payments provider to manage card payment acquiring and settlement itself, bringing more of the payment process onto its own infrastructure.
A direct acquirer manages card payment processing and settlement on behalf of merchants. Omise said the move strengthens its full-stack payment capabilities in one of its core markets.
The company said Thai businesses are increasingly looking for payment infrastructure that can support both domestic growth and regional expansion, as they sell across more channels and into more markets.
“Thailand remains one of our most important markets, and strengthening our acquiring capabilities enables us to continue investing in technologies that help merchants navigate an increasingly digital and connected economy,”
said Sutthiporn Mekhaaphirak, Chief Operating Officer of Omise.
What direct acquiring changes for Omise merchants
According to Omise, greater control over the payment stack could, over time, help it streamline merchant onboarding, reduce reliance on multiple intermediaries, improve payment performance and provide better transaction visibility.
The company expects the capability to support future enhancements in payment authorisation, reconciliation, reporting and fraud management.
Groundwork for acquiring-as-a-service and PayFac
Omise said the acquirer status lays the foundation for future offerings, including acquiring-as-a-service (AaaS) and payment facilitation (PayFac), a model in which a provider onboards and processes payments for smaller merchants under its own acquiring relationship.
The company also identified payment orchestration as a potential future offering. This involves coordinating multiple payment providers and methods through a single layer.
These capabilities are intended for platforms, marketplaces, financial institutions and enterprise businesses.
“Businesses today are serving customers across more channels, payment methods, and markets than ever before,”
Mekhaaphirak added.
“By strengthening our core infrastructure, we are creating more opportunities to support merchants and partners in Thailand and across Asia with payment capabilities that can evolve alongside their businesses.”
Featured image credit: Edited by Fintech News Singapore, based on image by user8818949 via Magnific
