Japan is one of the most cash-centric of all developed nations, with about
E-commerce sales within Japan surged about 10% last year, prompting Sweden-based Adyen to expand its reach in the country so merchants using its platform can process transactions from all major cards locally, Adyen said in a Wednesday press release.
The move also supports a Japanese government initiative to increase cashless payments in Japan from about 20% currently to about 40% of all transactions by 2025, Adyen said in the release.
Adyen in the last few years has rolled out its payments platform supporting local acquiring in Singapore, Hong Kong, Malaysia, Australia and New Zealand with core merchants including Microsoft and Foodpanda.
“We are excited to be one of the first to go live with Adyen in Japan and offer our customers a seamless payment experience,” said Trevor Nies, Microsoft’s senior director of e-commerce payments, in the release.
“Asia-Pacific is a key growth driver for many of our international merchants, and therefore for Adyen,” said Warren Hayashi, Adyen’s president of Asia-Pacific, in the release.
