Fintech
Japan E-commerce Payment Market Report 2023: Market to Grow to $256.90 Bn by 2028 from $140.37 Bn in 2022 – QR Codes and Mobile Payments Power Japan’s Booming E-Commerce Landscape
The “Japan E-commerce Payment Market, Size, Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
Japan E-Commerce Payment Market is projected to grow to US$ 256.90 Billion by 2028 from US$ 140.37 Billion in 2022, growing at a CAGR of 10.60% from 2022-2028
Japan boasts one of the world’s largest and most advanced e-commerce markets. As the fourth-largest e-commerce market globally, Japan has experienced rapid adoption of mobile payments, leading to billions of dollars in transactions. Mobile payments in Japan primarily rely on technologies like NFC and QR codes. Younger, tech-savvy generations find it particularly convenient to use their smartphones for payments, either through dedicated payment apps or by scanning QR codes.
Popular QR code payment brands in Japan, such as PayPay, Line Pay, and MerPay, are actively leveraging rewards and incentives to enhance customer loyalty and satisfaction. This approach aligns with the growing trend of mobile shopping in the country, which has seen significant growth in the e-commerce payment industry.
However, it’s worth noting that while Japan is known for its technological advancements, the adoption of mobile commerce payments remains relatively low due to the continued use of desktops and a significant aging population that may be less inclined to embrace smartphones.
The government’s “Cashless Vision” initiative aims to boost cashless settlements from 18.4% to 40% by 2025. To achieve this goal, the government is encouraging credit card companies to adopt APIs (Application Programming Interfaces), responding to the demand for secure and convenient fintech services. The promotion of API integration is expected to accelerate the adoption of cashless payments and drive digital transformation within the financial services sector.
The Japanese e-commerce industry is currently experiencing rapid growth, accompanied by the emergence of key consumer trends. Three notable trends shaping this landscape are sustainability, omni-channel shopping, and ID payments. E-commerce companies are recognizing the significance of these trends and adjusting their strategies to cater to evolving consumer preferences.
ID payments, in particular, offer customers secure and convenient payment options while enabling a more personalized shopping experience. As these trends continue to influence the Japanese e-commerce sector, companies that prioritize sustainability, seamless shopping experiences, and secure payment methods are likely to thrive in this evolving landscape.
In Japan e-commerce payment industry, media products hold the largest market share
The payment market for media products in Japan is currently the most significant, reflecting the country’s strong inclination towards digital media consumption.
Japan has a tech-savvy population that highly values digital content, and as a result, Japanese consumers are actively using a variety of payment methods to access and purchase media products such as streaming services, e-books, and digital downloads. This dominance underscores the changing landscape of media consumption in Japan and the increasing demand for convenient and secure payment solutions in the market.
On the other hand, the apparel and footwear segment has emerged as the fastest-growing sector in Japan’s e-commerce payment industry. With the significant rise in online shopping and shifting consumer preferences, there has been a substantial increase in the demand for convenient and secure payment methods for purchasing apparel and footwear.
E-commerce platforms and retailers are making efforts to enhance the payment experience by offering seamless transactions and implementing innovative payment solutions to cater to this growing trend. The rapid growth in the apparel and footwear sector highlights its importance within Japan’s evolving e-commerce landscape.
Credit card payments are the dominant force in Japan e-commerce payment industry, holding the majority of the market
Japan mobile payment sector is experiencing rapid growth, making it the fastest-growing segment in the country’s e-commerce payment industry. With the widespread use of smartphones and the convenience they offer, Japanese consumers are increasingly embracing mobile payment methods for their online transactions.
In a move to address the challenges faced by foreign workers in Japan and promote market expansion and deregulation, the Japanese government is planning to implement a digital salary payment system by spring 2023. This system enables companies to transfer salaries directly to workers using smartphone payment apps, bypassing the need for traditional bank accounts.
By promoting this initiative, the government aims to facilitate financial inclusivity, enhance convenience, and stimulate economic growth in the country. This trend is driven by the ease of use, enhanced security measures, and seamless integration with various e-commerce platforms. As mobile payment technologies continue to advance, their popularity and adoption are expected to further propel the growth of Japan’s e-commerce payment industry.
Credit cards offer convenience, security, and widespread acceptance, making them a preferred choice for online transactions. With well-established credit card networks and a culture of credit card usage, Japanese consumers rely on this payment method for their e-commerce purchases. While alternative payment methods are growing, credit cards continue to maintain their stronghold as the primary mode of payment in Japan’s e-commerce landscape.
Key Company
The Japan e-commerce payment market is dominated by major players such as Rakuten Group, Suica, PayPay, Origami, merPay, and D-barai.
These companies play a significant role in shaping the landscape of e-commerce payments in Japan. With their innovative payment solutions and strong market presence, they cater to the diverse payment needs of consumers and businesses alike.
The competition among these key players fosters technological advancements, improved user experiences, and a wide range of payment options, contributing to the overall growth and development of the e-commerce payment market in Japan.
Company Analysis: Overview, Recent Development, SWOT Analysis
- Rakuten Group
- Suica
- PayPal
- Origami
- merPay
Payment Method – Japan Ecommerce Payment Market has been covered from 6 viewpoints:
- Credit Card
- Convenience Store Payment
- Direct Carrier (Billing)
- Mobile Payment
- Cash on Delivery
- Other
Segment – Japan e-commerce Market has been covered from 14 viewpoints:
- Media Products
- Apparel and Footwear
- Food and Drink
- Personal Accessories and Eyewear
- Consumer Electronics
- Beauty and Personal Care
- Home wares and Home Furnishings
- Consumer Appliances
- Consumer Health
- Traditional Toys and Games
- Pet Care
- Home Improvement and Gardening
- Video Games Hardware
- Home Care
For more information about this report visit https://www.researchandmarkets.com/r/vi18z8
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
The post Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets appeared first on .
Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
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