Stripe launches Konbini and Furikomi payments in Japan

Monday 18 April 2022 09:53 CET | News

Stripe has announced it supports two forms of payments in Japan, bank transfer method Furikomi and convenience store payment option Konbini.

Now, through a single integration, businesses of all sizes can use Stripe’s platform to accept Furikomi and Konbini payments, in addition to credit and debit cards. The expansion further accelerates Stripe’s growth plans in Japan.

Furikomi lets businesses transfer funds directly from their bank accounts. It is the most widely used payment method for B2B transactions in Japan, with ten times the volume of B2C transactions, according to the press release. 96% of B2B transactions are done through bank transfers, worth almost USD 3 trillion annually.

With fully automated and integrated Furikomi payments, businesses don’t need to reconcile outstanding invoices with bankbook entries at the end of each month. Stripe’s Furikomi solution also facilitates handling refunds. Currently, most bank transfer products do not support refunds in the same way that card payments do. With the addition of Furikomi, businesses can partially or even fully refund bank transfers all within the Stripe dashboard.

The company also announced its support for Konbini payments at more than 34,000 outlets across Japan. Konbini payments allow consumers who don’t have access to cards, or who prefer to use cash, to pay for online purchases at their local convenience stores. Konbini payments make up 18% of the nearly USD 167 billion annual online B2C payment volume in Japan.

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Keywords: Stripe, local payment method, bank transfer, recurring payments, refund, payment methods
Categories: Banking & Fintech
Companies: Stripe
Countries: Japan
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Banking & Fintech


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