Smartpay Japan Wins the Fastest Growing Fintech Asia 2023 Award by Global Financial Market Review
LONDON, May 22, 2023 – Global Financial Market Review (GFM Review), a London-based prestigious financial news portal, is delighted to announce Smartpay Japan as the winner of the Fastest Growing Fintech Asia 2023 Award.
Smartpay Japan, a trailblazer in the digital payment landscape, has been recognized for its innovative one-click financial solution. This revolutionary fintech company has catalysed a significant transition from traditional cash and paper-based financial services to digital payment solutions for Japan's 70 million high-income and low-risk consumers.
"We are thrilled to honour Smartpay Japan with this award," said Brett Hurll, Executive Editor at GFM Review. "Their unique approach to payments, deep technological acumen, and collaboration with established banks make them an important player in the rapidly evolving fintech space in Asia."
In a remarkably short span of one year, Smartpay Japan has secured numerous firsts. It's the first company in Japan to be granted the Direct Debit Digital Payment License, sign on 73 banks covering 90% of the banking population and have dual acquiring with Adyen and Stripe. It's also the first to offer digital instalments on Shopify in Japan and free instalment payments using a bank account and credit card.
This rapid growth has been reflected not only in the Gross Merchandise Value (GMV) but also in the dramatic increase in the number of consumers, merchants, and banking partners.
"Smartpay Japan's mission has always been to empower consumers and merchants with seamless and innovative financial solutions," stated Sam Ahmed, CEO of Smartpay Japan. "Receiving this award is a testament to the hard work and dedication of our team, and our ability to maintain an exceptional growth momentum, as evident in our expanding consumer base and merchant network."
Smartpay Japan has revolutionized the way banks operate in the fintech space, incentivizing them to promote Smartpay's solutions, thus increasing their profitability from e-commerce payments. Unlike other fintech companies, Smartpay Japan collaborates with legacy banks instead of competing with them.
The company's impressive achievements are further bolstered by their Average Order Value (AOV), which stands at $US276 per transaction, significantly higher than the developed market average of USD$90 for other Buy Now Pay Later (BNPL) companies.
Smartpay Japan's platform guarantees stability and low latency due to its hosting in Japan and its spread over multiple availability zones. Furthermore, its multi-acquirer setup across both international and domestic networks allows dynamic optimization routing to maximize authorization rates.
"We've succeeded in redefining the digital payment landscape in Japan," continued Ahmed. "Our one-click financial solution and unique payment options are at the forefront of this revolution, and we're proud to be a catalyst in Japanese consumers' transition to a cashless society."
About Smartpay Japan: Smartpay Japan is a leading fintech company revolutionizing digital payments in Japan. With its one-click financial solution and unique payment options, Smartpay Japan is making digital payments more accessible, secure, and efficient for millions of Japanese consumers. For more information, visit https://smartpay.co/.