Abstract: According to foreign media reports, Twitter founder Jackdorsey (Jack Dorsey) officially opened for mobile payment service provider Square into the Japanese market. The expansion was the first time that square left the North American base, choosing Japan, the world's third-largest economy, to be particularly significant
According to foreign media reports, Twitter founder Dorsey (Jack Dorsey) officially opened for mobile payment service provider Square into the Japanese market. The expansion is the first time that Square has left its North American stronghold, choosing Japan, the world's third-largest economy, to be particularly meaningful.
Although the timing is favorable, it can be foreseen that in the Japanese market, Square's business will not Yimapingchuan. In Japan today, cash payments remain mainstream, and rival PayPal has quietly deployed its payment system services in Japan a year ago. But Dorsey firmly believes that Square will be able to achieve success that others have never been able to achieve.
When Theverge's correspondent asked what Dorsey Square could achieve, Square's CEO said: "Fundamentally, I think it's not enough to build a credit-mechanism terminal." "Especially in the Japanese market, people here still prefer to trade in cash, but I find that people here are starting to have an interest in mobile payments, but they're not used to it now, or for security reasons." Our solution is no problem in itself, and our success in the United States and Canada is a good testimony. I believe we can also achieve success in Japan, "Dorsey added.
In the Japanese market, Square will join hands with Mitsui Sumitomo to develop the mobile payment service market. According to the news, in Japan, users use the square solution to complete a single transaction, Square will charge a 3.25% fee, which is higher than in the United States and Canada 1%. Still, the service charge for square in Japan is less than that of rival PayPal, which has a 5% per cent handling charge.
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