Connecting 45 Million Korean, 120 Million Japanese and 1.3 Billion Chinese Potential Online Consumers
Many merchants experienced a vast number of challenges
working with integrating local payment schemes to their
online business strategy. ONE Payment Alliance service
model was built based on eliminating many challenges that
many global merchants encountered. Our platform was built
on the requirements from global merchants need.
China, Japan and Korea markets are unique not only the
payment mechanism but the surrounding online environments
many relating to local financial regulations, government
compliances and online consumer behaviors etc. Often,
many merchants shy away from these markets due to complexity
or/and lack of local knowledge to set up the online service
which could result to missing out on time to market.
Challenges are
working
with local issuers/acquirers as foreign merchant implementing
local standard payer authentication mechanism
(e.g. Korea online shoppers must be authenticated via
public digital certificate for all transactions over $300
online) understanding
online consumer behaviors
(e.g. many Japan’s online shoppers rely on convenient
stores, Konbini, to conduct in-store payments) setting
up real-time transactions preventing
fraud and other risk management communication
in local native language understanding
the online market trends and payment method associated
working
with local issuers/acquirers as foreign merchant