What is BluePay? BluePay Review

Important People

Jimmy, CEO, graduated from Sichuan University, worked for Huawei, a Fortune 500 company, and served as CEO of subsidiaries in Thailand, Cambodia, Myanmar, Laos, Indonesia and other countries. He has more than 15 years of work experience in the Asia-Pacific market and is familiar with overseas market development management.

Cao Xingge, COO, graduated from Peking University, worked for Handson Mobile, a global top 10 game manufacturer, founded and established several Internet companies as CEO, and was recognized by the capital market. A successful serial entrepreneur, familiar with mobile Internet business models and management.

Company Introduction

BLUE has offices and R&D centers in Shenzhen, China, Bangkok, Thailand, Jakarta, Indonesia, and Hanoi, Vietnam. With scenarios as the center and development from online to offline, it has built two core capabilities: rapid iteration of online product operations and offline expansion that penetrates the capillaries of cities. It not only brings the latest product technology models of China's Internet to Southeast Asia, but also conducts in-depth localized innovation based on the Southeast Asian market. It also continuously collaborates online and offline to open up data empowerment in the three aspects of people, goods, and places, continuously improves operational efficiency, and creates unique platform competitiveness.

Basic Introduction

BluePay was founded in January 2015. The team consists of former elites from Huawei, Alibaba, Tencent, Baidu and Sina. BluePay has its headquarters and R&D center in Shenzhen, a regional operation center in Bangkok, Thailand, and offices in Beijing, Malaysia, Singapore and Jakarta.

BluePay has 6 million users from China, Thailand, Vietnam, Singapore, Malaysia and Indonesia.

The company currently operates mainly in Bangkok and Jakarta, and has laid out locations including office buildings, apartments, shopping malls, campuses, factories and other crowded areas.

BluePay provides services such as money transfer, prepaid recharge, postpaid recharge, game card recharge, bill payment, movie ticket booking, subway ride, etc.

Operational Model

BlueOcean Pay relies on its own online platform's powerful customer acquisition capabilities, combined with offline one-to-many and many-to-many settlement and clearing services, to help large, medium and small merchants solve problems such as real-time settlement and merchant number user retention.

Profit Model

In terms of profit model, the company's revenue comes from sales gross profit and advertising, and it will also consider the possibility of profitability in financial services in the future.

Development History

In March 2017, BluePay Wallet obtained the official certification for electronic payments and PCI DSS compliance from the Bank of Thailand.

Financing

In 2015, it received a million-dollar angel round of financing from Kongzhong.com.

In 2016, it received a US$10 million Series A financing led by Jiayu Fund and Joy Capital.

In 2018, it received tens of millions of dollars in Series B financing led by Source Code Capital, followed by Joy Capital and Jiayu Fund. In March 2019, BluePay received tens of millions of dollars in Series C financing, led by Ant Financial (Alibaba) and Joy Capital.