Worldline has expanded its business into Japan to offer credit card payment processing for merchants in the country.
The French payment provider partnered local payment solutions and network service provider (NSP) Vesca for its expansion to Japan.
Vesca will act as a technical enabler, functioning as Worldline’s acceptance layer in the country.
Worldline plans to roll out its offering in early 2022. These will include credit card acquiring and POS card acceptance and processing services.
The company said it plans to expand its offerings into the e-commerce segment in the coming months.
WorldlineMerchant Services chief market officer Roger Niederer said: “Strong local relationships paired with latest payment technology at scale is the approach we are taking to address new markets.
“Japan is one of the most promising economies for card payments, and we are glad to be transforming the market though our unique set-up with Vesca. Their deep understanding of both the Japanese merchants and international payments is an asset in our partnership.”
The move comes as Japan seeks to double the current rate of 35% cashless transactions to card-based by 2025.
Besides consumer behaviour, the delay faced by merchants in the onboarding process and cost for payment accepts are cited as main barriers to adoption of cashless payments in the country.
Vesca CEO Makoto Yoshida said: “This partnership will bring end-to-end advanced payment services and solutions for Japanese merchants as well as in-depth market expertise.
“Furthermore, we plan to create unique segment-specific features by collaborating with our extended ecosystem of clients and partners.”
Recently, Worldline said it is in exclusive talks with the Apollo Funds in connection with a binding offer for the purchase of its Terminals, Solutions & Services Business Line.
A potential deal would be worth around $2.6 bn (€2.3bn).