ORIX to Launch “Flico,” a Low Cost Remittance Service
Aug 18, 2015
TOKYO, Japan - August 18, 2015 - ORIX Corporation ("ORIX"), a leading integrated financial services group, today announced that it will launch a new on-line settlement service, "Flico," which allows corporate and private business owners across the country to reduce remittance expenses.
In this service, customers entrust day-to-day purchase and expense related remittances to ORIX who then remits payments to designated payees on behalf of the customers. Regardless of the amount of remittance, the fee for each remittance is fixed at 280 yen. Since "Flico" uses an ASP platform, the service is available from internet connected terminals such as PC and not requiring any application installations. Once the customer registered the remittance data in the database and makes a deposit to the designated account, the remittance under the name specified by the customer is made to the payee. As the service does not require any initial fee or monthly charge, a broad base of customers with no regard for industries or business size will be able to enjoy the benefit of cost reduction.
For corporate customers, ORIX has been providing payment settlement solutions including a B2B payment settlement service that replaces promissory note issuance with electronic agreements, "e-Cash discount (*1)," and factoring service for accounts receivables and medical treatment and nursing care reimbursement fees receivables. Since January 2015, a sales promotion support service using "LOOP+ Card (*2)" has also been offered as one of ORIX's payment settlement services for B to C business operators.
ORIX will continue to respond to the various needs of customers for sales growth, operational efficiency and cost reduction by enhancing our B2B settlement service.
(*1) Promissory note reduction system through which web-based settlement service is offered aiming for the reduction of promissory notes related costs and depository risks.
(*2) "LOOP+ Card," an in-house prepaid card Issuance system which offers comprehensive services from service-designing to data marketing. Charges (prior deposits) increase the sales revenue, unlike electronic money formats and shared point cards, the full amount charged in advance to the prepaid cards will almost certainly generate sales for the company that uses the card.
Corporate Planning Department
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group that provides innovative products and services to its customers by constantly pursuing new businesses. Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into the lending, investment, life insurance, banking, asset management, automobile-related, real estate and environment and energy-related businesses. Since its first overseas expansion into Hong Kong in 1971, ORIX has spread its business globally by establishing locations in a total of 36 countries and regions across the world. Moving forward, ORIX aims to contribute to society while continuing to capture new business opportunities. For more details, please visit our website: http://www.orix.co.jp/grp/en/
Caution Concerning Forward-Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "4. Risk Factors" of the "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2014 - March 31, 2015."
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