Credorax, a provider of payment processing solutions, has received a license from Japan’s Ministry of Finance to launch its services in the country.
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The license allows Credorax, through its online cross-border payments platform, to process US, European and other global merchants’ online payments domestically, within Japan.
The platform, known as Smart Acquiring, allows merchants and payment service providers to conduct all of their online payments business through one source instead of fragmented solutions dispersed in different regions across the globe.
Jonathan Epstein, country manager for Credorax Japan, will lead the company’s activities on-ground in its Tokyo office. Prior to joining Credorax, Epstein served as general manager for Paypal Japan.
Benny Nachman, CEO of Credorax, said: "This license is not only a win for Credorax, but one for the entire global online payments ecosystem. We are the first amongst our competitors to receive this kind of license in Japan, which means we are unlocking the door for others to enter this otherwise protective market."
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