July 10, 2009
- GMO Payment Gateway
July 10, 2009
Press Release
GMO Payment Gateway, Inc.
(TSE First Section Code: 3769)
GMO Payment Gateway Steps up Global Alliance with Introduction of Leading Chinese Payment Processing Service by Alibaba Group
Tokyo – July 10, 2009 – GMO Internet Group non-face-to-face credit card payment processing company, GMO Payment Gateway, announces it is stepping up its Global Alliance initiative in anticipation of the globalization of the non-face-to-face payment processing market. The initiative supports Japanese businesses seeking to expand internationally.
Background
The Internet has made it possible to shop anytime, anywhere and the non-face-to-face payment processing market is growing beyond national borders becoming global in scale. As the globalization of the markets continues more and more Japanese businesses seeking to expand ecommerce sales into countries where existing demand is high. However language and cultural differences pose barriers to entering foreign markets, and even after entry into the market it can be difficult to grow profits due to the extra time and costs arising from the necessity of dealing with differing trading customs.
We are also seeing an increase in the number of foreign companies approaching us with a view to entering the Japanese non-face-to-face payment processing market.
In response, GMO-PG is strengthening its Global Alliance initiative through provision of the international payment processing services that e-commerce businesses need, and value added international services.Today we announce the launch of Alipay Kokusai Kessai, the most widely used online payment processing method in China.
About Alipay Keissai
In the Chinese consumer market income is increasing as a result of rapid economic development. In 2007 it was worth approximately 116 trillion yen (*1), one of the largest scale markets in the world. In 2008 the ecommerce market in China showed exponential growth, expanding 128% to 1.6 trillion yen (*2), by 2012 it is expected to be worth 10 trillion yen.
In the rapidly expanding China ecommerce market, Alipay commands a 58.1% (*3) share of the online payment processing market. The leading domestic payment processing tool processes 10 billion yen in transactions each day (2/2009) and has over 150 million members. Alipay acts as an intermediary between online store and customer eliminating concerns on the seller side over whether they will receive payment and on the buyer side over whether they will receive the product. It is said to be the most highly reputed online payment processing service among Chinese consumers.
About the Provision of Alipay Kokusai Keissai in Japan
GMO-PG will offer Alipay Kokusai Keissai to approximately 20,000 existing merchants as well as new customers seeking to enter the ecommerce market in China. Customers who adopt the service simply set up a contract with GMO-PG to begin using Alipay, Chinese language skills and complicated application procedures are not required. GMO-PG receives payment from Alipay in Japanese yen so there is also no exchange rate risk.
GMO-PG aims to have 100 merchants using Alipay Kokusai Keissai within three years.
*1 Ministry of Economy, Trade and Industry
*3 Analysys International
Online Payment Processing Market in China
(Source: Analysys International)
GMO Payment Gateway
GMO-PG provides credit card payment processing services including non-face-to-face payment processing for online stores etc, processing of recurring payments such as CATV and NHK fees as well as social insurance, payments to the Tokyo Metropolitan Government and other public institutions . It is a completely safe and very convenient service for both business and consumer. We aim to be the payment processing infrastructure for Japan.
Media Inquiries
GMO Payment Gateway Inc. Corporate Planning Office
E-mail: [email protected]
GMO Internet Inc. Group PR Department
E-mail：[email protected]
About GMO Internet GroupGMO Internet Group, headquartered in Japan, is a leading force in the Internet industry offering one of the most comprehensive ranges of Internet services worldwide. The group holds top domestic market share in domain registration, web hosting, and payment processing and provides a host of other Internet services including global online security services, e-commerce solutions, and Internet advertising to both businesses and individuals. At the centre of the group is GMO Internet, Inc. a company listed on the prestigious first section of the Tokyo Stock Exchange (TSE: 9449).
GMO Payment Gateway Inc.
Company Name | GMO Payment Gateway Inc. http://www.gmo-pg.com/ (TSE First Section Code: 3769) |
Address | Shibuya Square A, 1-9-5 Dogenzaka, Shibuya-ku, Tokyo JAPAN |
CEO | Issei Ainoura |
Business Description | - Credit card payment processing and related services |
Capital | 655 million yen |
GMO Internet Inc.
Company Name | GMO Internet Inc. http://www.gmo.jp/en (TSE First Section Code: 9449) |
Address | Cerulean Tower, 26-1 Sakuragaokacho, Shibuya ku, Tokyo, JAPAN |
CEO | Masatoshi Kumagai |
Business Description | - Web Infrastructure & E-commerce - Internet Media |
Capital | 1.27 billion yen |