Digital Garage Group Invests in Leading Indian Payment Provider "Phi Commerce"

Digital Garage has invested in Phi Commerce, a leading Indian payment service provider. Additionally, DG Financial Technology, the payment business company within the Digital Garage Group, has signed a business alliance agreement with Phi Commerce.

Phi Commerce is a reliable payment service provider licensed and certified by the Reserve Bank of India (RBI), India's central bank. It is a startup that offers payment processing services in India as well as high-quality payment solutions to banks and payment companies. Among its many achievements, Phi Commerce provides solutions for the Indian domestic payment card brand "RuPay," which is operated by the National Payments Corporation of India (NPCI) and has issued over 700 million cards. As an omni-channel digital payment solutions provider, it offers seamless payment experiences across online, in-store (POS), and mobile ordering platforms.

The Digital Garage Group has now formed a strategic capital and business alliance with Phi Commerce. As part of this agreement, DGFT has obtained exclusive sales rights in Japan for Phi Commerce's payment solutions. Moving forward, DGFT plans to develop a "Processing Platform Business" that will provide payment system infrastructure to external payment operators by leveraging Phi Commerce's solutions.

Through this partnership, the Digital Garage Group aims to support the healthy development of Japan's fintech market by providing payment system infrastructure that allows any company to enter the payment business easily and efficiently.

The Digital Garage Group has been deepening collaboration between its business segments under the group strategy "DG FinTech Shift," which integrates payment, data, and technology. This partnership represents one of the group's synergy initiatives, where the Global Investment Incubation (GII) segment's network and investment capabilities with promising startups have contributed to the growth of the Platform Solution (PS) business centered around payment platforms. In the previous fiscal year, the Group also established a Business Co-Creation Department to strengthen business collaboration within the DG Group, particularly between the GII and PS segments. The Group will continue to accelerate non-continuous business growth by maximizing group resources.