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PChome to Acquire 55% Shares of PChomePay to Expand Payment Ecosystem

PChome

On Aug. 13, Taiwan's e-commerce giant PChome announced it will acquire all the PChome Pay shares held by PChome Store, making it the biggest shareholder in this subsidiary.

PChome Pay is a third-party payment platform while PChome Store is an associate company that runs B2B2C e-commerce.

For the first half of 2019, PChome's overall revenue has hit record high, around $573.7M (NT$18B), and this quarter has seen a 12.6% growth in revenue, which reaches $280.4M (NT$8.8B).

After this deal, the group is expected to start integrating its online and offline payment services (PChome Pay and Pi App, respectively) and developing e-finance service with the goal to "redefine the landscape of internet payment," chairman Hongzhi Zhan said. "Through a wide variety of service, PChome will connect platforms, users, and payment systems and expand [its] ecosystem."

To expand its cross-border e-commerce business, PChome has partnered with Rakuten and eBay this year. In June, the group signed an memorandum of understanding (MOU) with Nonghyup Hanaro, a subsidiary of South Korea's National Agricultural Cooperative Federation (Nonghyup) and one of its top three leading logistics companies, to promote transnational businesses between the two countries.

Earlier in April, Ruten, a subsidiary of PChome and an online auction operator, had also announced its plan to cooperate with eBay to provide Taiwanese customers with easier access to U.S. products.

Bryan Chou
Journalist & Global PR

Bryan Chou is a writer, a translator, and a journalist for Business Next. The year he spends in NTU student press as an editor is the beginning of his writing journey. After the internship experience in a Taipei-based startup, he starts to write about innovative tech and entrepreneurship while keeping abreast of the changing social and political landscape on a global scale.

He has received his BA in Foreign languages and literatures from NTU and traveled extensively around Europe during his one-year stay in Prague, learning about the history and culture of the region from local people. Currently based in Taipei, he hopes to present the best of Taiwan to the world.