Japan E-commerce News

Recent industry report about Japan E-commerce company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Japan E-commerce Market industry experts.

Japan E-commerce News

  • February 2022 - Rakuten, a key vendor in Japan's E-commerce company, launched its own NFT platform for the sale and trade of virtual assets in a bid to cash in on the crypto sector. The company said its platform also features an ability for IP holders to build their own websites supporting the issuance and sale of NFTs.
  • November 2021 - Forest, a Japanese E-commerce aggregator, announced that it had raised approximately USD 8 million in a seed round led by The University of Tokyo Edge Capital Partners and Nordstar Partners. The startup will use the new capital to acquire more than 300 Japanese E-commerce brands that have been carefully crafted and curated by entrepreneurs. Forest will apply digital marketing strategies at scale, optimize sales and enhance inventory planning through data analytics, as well as support cross-border E-commerce expansion.
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  • October 2023: The State Bank of India (SBI) has introduced a 'Mobile Handheld Device' to offer banking services to its financially inclusive customers. This step aims to improve accessibility and convenience for customers in availing banking services and providing bank kiosks at customershome. This device will significantly enhance banking accessibility by bringing kiosk banking directly to the customer's doorstep. It will provide greater flexibility to customer service point (CSP) agents, allowing them to reach out to customers wherever they may be. This initiative will particularly benefit customers who face difficulty accessing CSP outlets.
  • August 2023: Northwest Bank region management has announced their plans to build a new digital banking kiosk at 1081 Million Dollar Highway in front of Burke's Ace Hardware in St. Marys. This convenient kiosk will provide customers with two efficient banking options: a 24/7 drive-up ATM for easy access to account withdrawals, fund transfers, deposits, and more, and an advanced video teller machine (VTM) for live interactions with a teller. This will allow customers to comfortably address any inquiries or carry out routine transactions such as check cashing or loan payments.
  • April 2023: SSG.com announced that it would introduce a personnel system that reflects the grade system competency/performance-based promotion flexible compensation system to secure competitiveness in the e-commerce business and future growth strategy.
  • April 2023: TMON announced that the company would open a 'Sports & Leisure Special Hall' and introduce popular sports and outdoor items at special prices. An additional 8% discount is also available when paying with Kakao Pay. This will help athletic people stretch in warm spring weather.
  • January 2023: Samsung unveiled plans to expand the availability of the Samsung Wallet app to eight additional countries, with Singapore being among them. This versatile wallet application was introduced as a unified platform, offering users a secure storage solution for their digital keys, boarding passes, identification cards, and various other documents on their mobile devices.
  • July 2022: Google Wallet was introduced as a standalone app for users in Singapore, providing a complementary experience to Google Pay. This digital wallet, designed for Android and Wear OS, aimed to streamline the process of saving and accessing essential items, including vaccine cards, event tickets, boarding passes, and loyalty cards.
  • September 2022: Hong Kong-headquartered PayTech startup KPay Merchant Service announced that it had raised USD 10 million in a funding round. This capital investment will enable the company to bolster its product development efforts and its regional expansion. Also, the company will continue to improve its products and services, grow its market reach, and work to give MSMEs in Hong Kong and other Asia-Pacific markets efficient and easy-to-use integrated business solutions.
  • August 2022: Invest Hong Kong (InvestHK) and the Hong Kong Monetary Authority (HKMA) jointly announced the addition of the Central Bank Digital Currency (CBDC) track to the Global Fast Track 2022, providing local and global firms valuable opportunities to partner with the central banking institution to boost the growth and adoption of fintech in Asia.
  • May 2023: Maybank launched its cross-border QR payment service for Maybank customers traveling to Singapore, Indonesia, and Thailand, as they can now make cashless and instant payment transactions via the MAE app. Similarly, incoming tourists from these countries can make cashless payments with Maybank QRPay merchants in Malaysia. The new offering will enable Malaysians visiting the respective countries to enjoy a cheaper, faster, and more convenient payment option through the MAE app.
  • January 2023: Xoom, PayPal's international money transfer service, has announced that it has launched a new cross-border money transfer product, debit card deposit, enabling Xoom customers, and the new feature will offer remittance receivers easy, secure, and real-time access to funds, which are sent directly to a recipient's eligible Visa debit card.
  • December 2022: Continente has a total of 77 stores in the Lisbon district and is currently planning to open shops in 3 new locations of Continente Modelo Estoril, in Cascais, Continente Bom Dia Av. de Paris, in Lisbon. Continente Bom Dia Vialonga, in Vila Franca de Xira, to strengthen its brand's position in the region and to create 160 new jobs.
  • October 2022: Makro Portugal invested in developing its online business and launched a new online sales platform with more than 20,000 non-food SKUs to reach more customers. The website has categories for products like TVs, outdoor equipment, cleaning supplies, throwaway goods, office supplies, and kitchen appliances, among other things.
  • May 2022: Singapore introduced a rating system that evaluates e-commerce marketplaces based on anti-scam policies. Its technical rules for online transactions were modified to include more information on avoiding scams. The E-commerce Marketplace Transaction Safety Ratings (TSR) were created to assess the extent to which these platforms had adopted anti-scam procedures that ensured, among other things, user authenticity, transaction safety, and the availability of loss-recovery channels for customers.
  • May 2022: Singapore state investor Temasek Holdings boosted its investment in e-commerce giants Amazon.com Inc and Pinduoduo by more than 15%. Temasek, one of the world's largest investors with stakes in Singapore Airlines, DBS Group, and other companies, first revealed a holding in Amazon in 2017 and Pinduduo in 2020.
  • June 2023: As part of its effort to support over 120,000 small businesses in the area, the social media platform Tiktok will launch a program to offer e-commerce training for stores in the Heartlands. For Heartland stores in Singapore, Tiktok will roll out a thorough, systematic digital training program that will help them establish a presence online in a secure, open, and approachable.
  • March 2023: The US Federal Reserve's digital payments system is expected to debut this year and is expected to create 'a leading-edge payments system that is resilient, adaptive, and accessible. The system is expected to allow bill payments, money transfers such as paychecks and disbursements from the government, and other consumer activities to move more rapidly and at lower cost, according to the program's goals.
  • January 2023: The Union Cabinet in India approved INR 2,600 crore for promoting the Rupay Debit Card and low-value BHIM UPI transactions. Under the scheme, banks would be provided financial incentives for promoting Point of Sale (PoS) and e-commerce transactions using Rupay and UPI in the current financial year.
  • November 2022: Return Shopping, a new source of income for Shopify businesses, was announced by Happy Returns, a PayPal Company. This function aided in directing customers to retailers' online shops throughout the return process, assisting in revenue retention without the accounting difficulties involved with exchanging items of differing pricing.
  • October 2022: PayPal Holdings, Inc. announced the expansion of the PayPal Zettle Terminal to small companies in the United States. Due to Terminal, an all-in-one point-of-sale system, small businesses could benefit from enhanced in-store mobility. Because of its sophisticated design, the Terminal could be used without a second device out of the box because of its sophisticated design. This touchscreen-enabled digital in-store solution provides small businesses simplicity, speed, and mobility while being simple to set up and operate.
  • March 2023 - Jumia, one of Africa's leading e-commerce platforms, has announced its annual "Tech Week" campaign to provide users with legitimate tech gadgets such as mobile phones and accessories, cameras, video games, TVs, computers, and others. Consumers in Nigeria will utilize the offer to upgrade their technological accessories.
  • March 2023 - ImaliPay, a global FinTech-as-a-Service provider, has partnered with Renda, a third-party e-commerce fulfillment solution. Through this agreement, they seek to help companies across Africa by simplifying and optimizing the order fulfillment process for enterprise and medium-sized firms. It will begin with Nigeria.
  • September 2022 - ProvidusBank, Mastercard, Interswitch, and Thales introduce contactless payments-tap-to-Pay transactions on mobile devices in Nigeria. Customers digitize their cards as a one-time setup by following the instructions on their banking app. After provisioning the card credentials to a mobile device, a cardholder may tap to pay by opening their banking app, selecting NFC payments, touching their phone at the Point of Sale, and entering their PIN to complete the transaction. They can also make secure in-app and e-commerce payments.

Japan E-commerce Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)