This way, businesses will be able to achieve higher authorization rates
Adyen has 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 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.
According to the press release, the pandemic has further accelerated e-commerce growth in Japan. As Japanese consumers continue to embrace online shopping, the use of e-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, the report claims.
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 currently offers local acquiring for international cards in Australia, Brazil, Canada, Europe, Hong Kong, Malaysia, Singapore, Puerto Rico, New Zealand, and the US.
We’ve reported that Wise is now available on Temenos MarketPlace.