Opn Launches Card Issuing in Thailand, Expands BaaS
OPN Holdings Co., Ltd. (operating as Opn), the one-stop financial solutions company, today announced that it had started offering card issuing in Thailand, enabling customers to easily launch, manage, and scale their own branded card programs, as well as generate new revenue streams. Opn continues to strengthen its Banking-as-a-Service (BaaS) capabilities, following the prior release of Acquiring-as-a-Service , as it strives to build an inclusive financial ecosystem.
Opn’s full-featured API-based solution allows businesses, platforms, marketplaces, financial institutions, and non-bank lenders to quickly create cards. Cardholders can make online and offline purchases using their mobile phones.
Opn’s card issuing platform offers many benefits to its customers:
- Customizable branded cards with reward programs, such as cashback and loyalty points, help strengthen customer loyalty
- Integration with a wallet app allows for more convenient and increasingly popular payment methods, including QR code payments. The mobile wallet penetration rate is expected to rise to approximately 63 percent in Thailand by 2025
- Detailed customer usage analytics unlock actionable insights into spending behaviors and lifestyle trends
- The seamless end-to-end platform enables the movement of money within one ecosystem, streamlining operations
- Flexible architecture enables new earnings opportunities, such as interchange revenue-sharing programs
“We can now enable banks and nonbank financial institutions, as well as merchants and other businesses, in Thailand to easily and quickly embed our card issuing solution to provide innovative financial services. At the same time, consumers in Thailand will benefit from enhanced access to financial services they previously lacked,” said President and Co-founder Ezra Don Harinsut.
Credit card ownership in Thailand is 23% while 63% of the population is unbanked or underbanked, without a bank account or access to basic financial services.
“We are excited to introduce card issuing as part of our BaaS offering, a significant milestone in our journey towards becoming a truly one-stop financial solutions company. We will continue to expand our BaaS solutions to make digital finance seamless and borderless for consumers and businesses,” said Chief Product Officer Maxim Rokhline.
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