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The pandemic has boosted ecommerce growth in Japan, and as Japanese consumers accept online shopping, the use of electronic payments will increase as consumers move away from cash-based payments
Fremont, CA: ADYEN, the global payments platform of choice for many of the world's leading companies, has declared the expansion of its acquiring capabilities to include Japan. Adyen's acquiring capabilities are the backbone of the company's all-in-one payment network, enabling merchants such as Microsoft, Foodpanda, VanMoof, Breitling, and G-Star to maximize the value of each transaction through local payment processing.This announcement expands Adyen's local acquiring capabilities in Asia-Pacific, following launches in Australia, New Zealand, Hong Kong, Malaysia, and Singapore, and is driven by demand from foreign and domestic merchants looking to better serve Japanese customers.
The pandemic has boosted ecommerce growth in Japan, and as Japanese consumers accept online shopping, the use of electronic payments will increase as consumers move away from cash-based payments. The Japanese government has set a national target of raising cashless payments to about 40 percent of all transactions by 2025, up from about 20 percent currently.
"Asia-Pacific is a key growth driver for many of our international merchants, and therefore for Adyen. We're excited to bring our full-stack solution to merchants in Japan, as more companies transition to digital payments. Merchants can discover new avenues for growth and offer richer customer experiences with our payment optimization tools and data insights," stated Warren Hayashi, President of Asia-Pacific, Adyen.
Trevor Nies, Senior Director of E-Commerce Payments, Risk Operations & Analytics at Microsoft stated, "We have been working with Adyen since 2015 and have seen how Adyen has accelerated payments innovation to make payments faster, simple and secure. Adyen is one of our strategic partners who processes payments for us globally, across nearly all Microsoft products and services. We are excited to be one of the first to go live with Adyen in Japan and offer our customers a seamless payment experience."