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Netbay Public Company Limited (“Netbay”) was established on November 19, 2004 with a registered capital of 10 million Baht. Netbay is a joint venture between a group of shareholders and the executives of Software Link Company Limited (“Software Link”), an electronic transactions software development company (e-Business) and Internet Thailand Public Company Limited (“INET”), Thailand’s first internet service provider, in order to operate a product development business and service business for a comprehensive electronic transaction services (e-Business) between Business-to-Government Services (B2G), Business-to-Business Services (B2B) and Government-to- Citizen Services (G2C). On April 22, 2014, the Company had a registered capital in the amount of 200 million Baht and paid up capital of 160 million Baht. Later, the Company offered 40,000,000 additional shares and registered in the Market for Alternative Investment (MAI) on June 16, 2019. As a result, the Company has registered capital of 200 million Baht and 200 million Baht paid up capital. In addition to that, Netbay Public Company Limited holds Cloud Creation Company Limited’s shares (“Cloud Creation”) at a percentage of 100% of the total registered and paid up shares in order to support the service of e-Business Services group. Cloud Creation engages in the businesses of providing Customer Due Diligence (CDD Gateway) and Electronic Transaction Reporting Gateway (ETR Gateway) and Cloud Creation is the owner of Private Cloud Computing System.
The Company is primarily engaged in the development of electronic transactions products (e-Business) and provides a full scaled of Software as a Service (SaaS) for Business-to-Government Services (B2G), Business-to-Business Services (B2B) and Business-to-Consumer Services (B2C). The operators who use the Company’s electronic transaction services will receive optimum benefits from the Company’s services according to the Company’s vision which is “Better, Faster, Cheaper” and the Company will collect service charges on each transaction or a monthly fee.
The electronic transaction system offered by the Company to various agencies is in the full scaled form of Software as a Service (SaaS). This services cover the data center, the Disaster Recovery Center, the operating software system that support electronic transaction system ( platform as a service) which was developed by the Company, electronic transaction systems, networking systems and the protection of information, etc. This is an important part which enables various agencies to be able to access information technology system services without needing a high investment budget (Cheaper), having working systems that can be used quickly (Faster), without wasting time and increasing effectiveness at work and reducing complications (Better) for agencies in the areas of providing working systems, designing working systems, development, and the installation and maintenance of working systems.
The Company’s services are an important logistical tool that enables the customer’s corporate working systems to be carried out effectively, quickly, connecting to one another and reducing the use of high-cost, error-prone human resources. It is a service that could reduce the customers’ logistical costs and be able to build competitive capabilities for customers and Thailand. The electronic transaction systems that the Company has developed and offered to customers are essential for the effective and legal business operations of the customers. As a result, the Company regularly earns recurring revenue from providing continuous services. In addition to this, the Company does not need to carry the cost of inventory and the distribution costs for the Company’s products to customers.