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Adyen expands acquiring capabilities to Japan amid growing momentum for cashless payments
Wednesday, May 26, 2021
Adyen launches its acquiring solution in Japan to help businesses achieve higher authorization rates, better customer experiences, and deeper data insights as the Japanese market transitions
to online payments.
TOKYO, May 18, 2021 /PRNewswire/ -- ADYEN (AMS: ADYEN), the global payments platform of choice for many of the world's leading companies, today announced the expansion of its acquiring capabilities to include Japan. Adyen's acquiring capabilities are foundational to the company's all-in-one payment platform allowing merchants like Microsoft, Foodpanda, VanMoof, Breitling, and G-Star to get the most out of each transaction with local payment processing. This announcement extends Adyen's local acquiring capabilities in Asia-Pacific, following launches in Australia, New Zealand, Hong Kong, Malaysia, and Singapore, and is supported by demand from international and domestic merchants looking to better serve shoppers in Japan.
The pandemic has further accelerated ecommerce growth in Japan, and as Japanese consumers continue to embrace online shopping, the use of electronic payments will rise as consumers continue to move away from cash-based payments. Nationally the Japanese government has set a goal of increasing cashless payments to about 40% of all transactions by 2025, from about 20% 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," said Warren Hayashi, President of Asia-Pacific, Adyen.
Trevor Nies, Senior Director of E-Commerce Payments, Risk Operations & Analytics at Microsoft noted; "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."
Adyen manages the entire payment flow, including gateway, risk management, and acquiring for its merchants. This means that brands can accelerate global expansion and optimize payment processes, while continuing to meet the expectations of customers.
Adyen provides businesses with insights around local regulations, schemes, and payment methods with best-in-class technology, and deep acquiring expertise. With direct card acquiring connections with Visa, Mastercard, JCB, American Express, Diners, Discover, and UnionPay, transactions will be processed locally in Japan via the Adyen platform. Merchants can simply use Adyen's single platform to offer all the key payment methods that shoppers prefer, such as credit and debit cards, along with relevant payment methods.
Adyen currently offers local acquiring for international cards in Australia, Brazil, Canada, Europe, Hong Kong, Malaysia, Singapore, Puerto Rico, New Zealand, and the United States.(1)
About Adyen
Adyen (AMS: ADYEN) is the payments platform of choice for many of the world's leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Spotify, Casper, Bonobos and L'Oréal. The launch of Adyen acquiring in Japan as described in this update underlines Adyen's continuous expansion of supported payment methods and regions over the years, as well as its continuous growth with current and new merchants as part of its ordinary course of business.
(1) For more information about local acquiring and its benefits, please refer to: https://www.adyen.com/global-payment-processing.
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SOURCE Adyen Inc.
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