MFEC, the leading software development company in Thailand signing Memorandum of Cooperation with J Ventures ; the Corporate Venture Capital (CVC) in JMART Group to develop the payment gateway solution ; JFIN DDLP system, which is a loan providing system service developed by Jay Mart. It is expected to be completed in October 2018 as scheduled.
Mr. Siriwat Vongjarukorn, Chief Executive Officer and Managing Director of MFEC Public Company Limited (MFEC) ,the consultant, developer, and distributor of computer systems and information technology networks for the public and private sectors announced Partnership with Jay Ventures Ltd. or JVC, the software developer and applications in the field of Fin Tech, including investment in business in startup.
In this partnership, MFEC has developed the ‘Payment Gateway Solution’, an essential component of JVC's JFIN Decentralized Digital Lending Platform (JFIN DDLP), to increase its success and shorten development time. The payment system is expected to be ready in October 2018.
"MFEC is a developer and expert in Payment Gateway Solution, which has been trusted by many leading organizations. This partnership with JVC is a great cooperation of Synergy Partner, because MFEC is unique in the development of payment software and JVC wants to find a viable business partner to develop the payment solution of the platform that the Jay Mart group is creating to finish faster. This Payment system is also used in other e-commerce platform in the Jay Mart. It is the potential of both companies to strengthen and also to response for the government policies that are preparing for a full cashless society." Siriwat said.
The company believe that this partnership is just the first step. There are also opportunities to cooperate other businesses as of MFEC Group has another 14 affiliated companies, which are a consultancy and network development business that is the fastest growing industry in Thailand.
Mr. Thanawat Lertwattanarak Chief Executive Officer of J. Ventures Co., Ltd. (JVC) said that the signing of cooperation agreement with MFEC is a good start. MFEC is the developer of high-end payment gateway software solution. Through JFIN Coin, the first publicly available Digital Token (Initial Coin Offering: ICO), issued a 100 million digital coin JFIN Coin Of digital totals, 300 million digital tokens, the team has started developing the JFIN Decentralized Digital Lending Platform (DDLP) which will open the opportunity to the new business of Jay Mart Public Company Limited or JMART, which is currently a holding company, It is part of digital transformation of the group.
Referring to the plan, the Decentralized Digital Lending Platform is expected to roll out the Digital Lending Platform (DLP) in October 2018 and will be available in the coming months. Then the development is ongoing to Decentralized Digital Lending Platform (DDLP) which is scheduled to be completed in October 2019. The memorandum of agreement with MFEC will improve the success and reduce the development time as well.
"With the strength of the MFEC Group that specializes in software-based technologies and the strongest ecosystem of Jay Mart, which invests in retail and financial businesses. The technology is applied to the business as a concrete. With this collaboration, it is believed that JFIN DDLP is one of the most important jigsaw puzzles in the world and is the key to the transaction. The development plan of JFIN DDLP is excellent. In addition, MFEC has subsidiaries which is unique in technology. It is believed that the opportunity to strengthen in the future.” Thanawat said