InComm, a prepaid product and transaction services company, announced on 4th April that InComm Japan is partnering with Tencent FiT, the provider of WeChat Pay services and part of the Tencent group of companies headquartered in Shenzen, China.
In a press release, InComm Japan’s POSA network, which connects with more than 50,000 retail stores in the country, will facilitate customer purchases at the point of sale using WeChat Pay-issued barcodes. By leveraging this POSA technology, WeChat Pay customer account billing can be applied at the point of sale. This makes it unnecessary to set up a dedicated terminal and makes WeChat Pay services possible at all InComm retailers.
“We are pleased to announce our POSA technology is now available for alternative redemption purposes, and very excited to have WeChat joining us,” said Junichi Kito, director of Business Development at InComm Japan. In looking forward to the Tokyo Olympics in 2020, it is critical for Japanese retailers to prepare for global payment methods, which are convenient for travelers.
Meanwhile, WeChat Pay is a payment service that boasts more than 849 million monthly active users in China, handling more than 500 million transactions a day. The service is becoming one of the main mobile payment methods for consumers in China, InComm said. With this partnership, InComm’s POSA technology will enable Chinese visitors in Japan to use their smartphone to pay for products and services.
InComm is capitalizing on the uptick in terms of the number of Chinese visitors to Japan. In 2016, according to InComm, the number of Chinese visitors to Japan was more than 5 million, the largest number of tourists ever to visit the island nation.
Digital payment goes global as e-commerce grows. With travelers moving between countries, a speedy and easy global payment method is essential for retailers in every country. The world will evolve until no more tedious currency exchanging before traveling, you can embark on your journey to any country any time without having to bring along cash with you. It’s truly a cashless world in which a traveler needs to take with him only a mobile phone to make payments.