Payments News

On The Web

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Companies

EBay Paid $573M To Buy Japanese e-Commerce Platform Qoo10, Filing Reveals

“The deal underscores how eBay is at the same time pulling back from general plays while doubling down on more targeted opportunities. Earlier this year, the company gave up its stake in Flipkart  as part of its acquisition by Walmart, but at the same time committed to investing in a new, standalone eBay operation in India, using some […]
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Global

Japan Pushes Use Of Cashless Payments As Olympics Approach And Banks Strain

“Earnest efforts are underway in both the public and private sectors to promote cashless payments ahead of the 2020 Olympics. Credit cards, electronic money and other cashless systems account for 20 percent of all consumer payments in Japan, compared with 40 percent to 60 percent in the United States, European countries and China. The government […]
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Global

Japan aiming to promote cashless payment services

“In its “Cashless Vision,” compiled in April, the Ministry of Economy, Trade and Industry set a goal of raising the proportion of cashless payments, including through electronic money and credit cards, in overall household spending to 40 percent in 2025 from 18.4 percent in 2015.”
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Companies

Amazon And SoftBank Vie To Take Japan Cashless

“The platforms offered by the U.S. online retail giant and the Japanese tech and investment powerhouse will require minimal investment by merchants. That approach is friendly to smaller businesses — a group that is estimated to account for about 90% of Japan’s shops — for whom obtaining specialized equipment is a heavy burden. Through local arm Amazon Japan, […]
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Global

Japan to promote e-payment with subsidies and tax breaks

“Japan lags behind such countries as South Korea, China and the U.S. in embracing cashless payment, frustrating many visitors from abroad. It seeks to make cashless options widely available ahead of the 2020 Tokyo Olympics. The government intends to draw up a plan by year-end to standardize payment methods using QR codes. Businesses that provide settlement infrastructure in line with […]

On The Wires

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Companies

Alipay Seeks Japanese Partners to Strengthen Cashless Experience across the Country for Tourists before 2020

“Alipay, the world’s leading mobile and online payment platform operated by Ant Financial Services Group (“Ant Financial”), today announced that it will collaborate with a wider range of local Japanese partners to build a cashless environment for tourists coming to Japan, in particular for the Tokyo Olympic Games in 2020. This will allow the large […]
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Companies

Paidy Announces Strategic Investment from Visa

“Today, Paidy Inc. (“Paidy”), an instantly-issued post-pay credit provider, announced an investment from Visa (NYSE:V) as part of the company’s Series C funding. Paidy is Japan’s first instantly-issued post-pay credit service for ecommerce consumers. In addition, the two companies are partnering on new digital payment experiences that will give Japanese consumers more options when buying […]