Malaysian Payments Systems Provider, GHL Secures License To Operate Lending Services in Thailand
Malaysian payment systems provider GHL Systems Bhd said it has obtained operating licences from regulators to commence money lending services in Thailand.
In a press statement , GHL said its Thailand unit GHL (Thailand) Co was issued the Nano Finance Licence by the Bank of Thailand this month. The licenses permit money lending services to both individuals as well as businesses, companies and SMEs.
This marks a significant achievement in GHL's strategy in offering more value-added services to its small merchant base in terms of aiding the latter in their cashflow need. The offering of money lending services not only creates better transactional value with merchants, but also increases GHL's relevancy with its customers," GHL added, pointing to its transaction payment acquisition (TPA) merchants which stand at 87,600 points in Malaysia and Thailand.
GHL chief executive officer Mr Danny Leong said the development is timely as GHL seeks to roll out complementary services, in addition to payment solutions, to its merchant base.It also welcomes the ability to operate in Thailand which it claims has a huge potential compared to anywhere else in Southeast Asia.
GHL CEO, Mr Leong commented in an interview with Thailand Fintech News ,"The granting of these licences by Thai regulators is also recognition of GHL's proven track record in the payments space. The expanded service offering will further strengthen our position as the leading e-payment solutions provider in the region and preferred choice by merchants. We are hopeful in securing another similar licence in the Philippines which is currently in progress and next we are also planning to expand to Indonesia."