"Hey Patrick, what does the payments landscape look like in Japan?" I count 48 different ways you could pay at this convenience store. Plus cash, naturally, which is the most common one.pic.twitter.com/X5w1bzghsw
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I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.
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| Country | Code | For customers of |
|---|---|---|
| United States | 40404 | (any) |
| Canada | 21212 | (any) |
| United Kingdom | 86444 | Vodafone, Orange, 3, O2 |
| Brazil | 40404 | Nextel, TIM |
| Haiti | 40404 | Digicel, Voila |
| Ireland | 51210 | Vodafone, O2 |
| India | 53000 | Bharti Airtel, Videocon, Reliance |
| Indonesia | 89887 | AXIS, 3, Telkomsel, Indosat, XL Axiata |
| Italy | 4880804 | Wind |
| 3424486444 | Vodafone | |
| » See SMS short codes for other countries | ||
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"Hey Patrick, what does the payments landscape look like in Japan?" I count 48 different ways you could pay at this convenience store. Plus cash, naturally, which is the most common one.pic.twitter.com/X5w1bzghsw
There is currently a *brutal* battle going on for transitioning customers to app-based payment methods. The Japanese government wants to double, to approximately 40%, the percentage of consumer transactions which use some form of payment rails.
Banks are pushing credit and debit cards very, very heavily, and convenience stores (which are intrinsically extremely high-volume low-margin businesses) are rolling out or partnering with app-based payment providers, which they believe will save money and gain share-of-spend.
The primary sales pitches for app-based payment methods are saving time (credit card payments historically take longer to process at Japanese registers than any other payment type; app-based is virtually instant) and saving money via point-back systems or integrated loyalty.
The subsidization to get installed userbases is *intense*. c.f. Paypay which spent 10 billion yen (~$100M USD) to purchase +/- 3 million users. (This fact is reasonably public; c.f. horse's mouth here: https://about.paypay.ne.jp/pr/pr20190808_01_en.pdf … )
Theoretically speaking they have apps, but just for running your card. The Suica integration with Apple Pay is reasonably good, though. (To the point where a) it requires binning your card after setup and b) I feel pretty fine with that.)
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