According to the press release, the 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 initiative comes as 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.
Adyen manages the entire payment flow, including gateway, risk management, and acquiring for its merchants. This means that brands can accelerate global expansion and optimise payment processes, while continuing to meet the expectations of customers.
Besides, the company provides businesses with insights around local regulations, schemes, and payment methods. 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. Therefore, 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 US.
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