E-Commerce Payment Processing Service Market in Japan: Key Research Findings 2016
Research Outline
- Research period: From November 2015 to January, 2016
- Research targets: Payment processing service providers for e-commerce websites (including PSP: Payment Service Providers, mobile carrier billing aggregators, etc.)
- Research methodologies: Face-to-face interviews by the expert researchers, survey via email/telephone, and literature research
What is an E-Commerce Payment Processing Service?
An e-commerce payment processing service in this research indicates a service that goes between e-commerce businesses (e-commerce website operators) and payment service providers to undertake payment processing tasks on behalf of e-commerce businesses.
What is an E-Commerce Payment Processing Service Market?
An e-commerce payment processing service market in this research is calculated based on the trading volume of e-commerce payment processing service providers.
Summary of Research Findings
- E-Commerce Payment Processing Service Market in FY2014 Expanded by 12.2% on Y-o-Y Basis to Attain 8,313.8 Billion Yen
In addition to growth of the e-commerce market due to wide acceptance of online shopping and use of smartphones, more people shifted the payment method of public utility charges, house rent, educational fees, and etc. from the conventional cash to the payment processing services, bringing about the e-commerce payment processing service market in FY2014 to expand by12.2% from the previous fiscal year to achieve 8,313.8 billion yen, based on the trading volume of e-commerce payment processing service providers.
- Emerge of FinTech Startup Companies Creating New Payment Services
With some FinTech startup companies entering the e-commerce payment processing service market, increasing number of new services have been generated, diversifying the payment processing services. Such services include those with lower-than-conventional commission rates or those that use mobile phone number or mail address for the settlement.
- E-Commerce Payment Processing Service Market Projected to Achieve 15,628.8 Billion by FY2020
Backed by progress of the omni-channel environment and expansion of cross-border e-commerce, the payment processing services have gained ground at those areas where cash had been used as a payment method, and with emerging new various payment processing services, the e-commerce payment processing service market is regarded to expand to 15,628.8 billion yen by FY2020.
- Figure 1: Transition of EC Payment Processing Service Market
