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Stripe enters Asia with Japan beta launch

techinasia.com

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Re: Stripe enters Asia with Japan beta launch

#11

Post by paulsutter »

sdrothrock wrote: post #8
paulsutter wrote: post #6

Earlier quoted context omitted.

The predominant use of credit cards in Japan is ecommerce / online, which is, of course, Stripe's target market. Japanese have on average 2.6 credit cards[1] and spend on average about $3000 a year on those cards. So yes, they're used less often than in the US but they have broad adoption. Japanese people often tell me that Japanese don't like to use credit cards. But ask them, do they have one? (of course! they say)…

> Japanese people have on average 2.6 credit cards[1] and spend on average about $3000 a year on those cards. So yes, they're used less often but they have broad adoption. I've never seen a really detailed report that drills down into where people use them. Most people I know with cards will use them (or are forced to use them) for internet/cell phone payments, then pay for anything they buy on their smartphone throu…

> I do almost all of my shopping online, ... it's difficult for me to see exactly where it would make my life easier or better.

Early responses from web developers I know in Japan are a lot more enthusiastic. Which is, of course, their target customer.

Re: Stripe enters Asia with Japan beta launch

#12

Post by spacestation »

finally. I've been waiting for Stripe to come to Japan. I operate a hostel, SPACE riverhouse, in Nikko, Japan http://space.st and use Squarespace and the reservation system I use also integrates with Stripe. The bonus will be a little store front.

I have a square reader (does't integrate well) and paypal (clunky widgets that don't really apply).

Really excited about this.

Re: Stripe enters Asia with Japan beta launch

#13

Post by greggman »

sdrothrock wrote: post #9
anurag wrote: post #7

Earlier quoted context omitted.

(I work at Stripe.) I'd think of Stripe as more than just credit card payments. We already accept bank transfers in private beta in the US and would obviously love to expand this to other countries once it's ready. That said, it turns out credit card payments make up 60% of online commerce in Japan [1], so we figured we'd start with that! [1] http://asia.nikkei.com/Business/Consumers/Japan-credit-card-...

> We already accept bank transfers in private beta in the US and would obviously love to expand this to other countries once it's ready. I'd be interested in hearing your thoughts on what Stripe would offer in Japan in terms of being a bank transfer mediator. Unlike the US, bank transfers here are very simple and routine -- you can perform them at almost any ATM or online, and providing that they're done within busin…

They are also expensive. Usually $6 per transaction IIRC when I used to pay my rent.

Re: Stripe enters Asia with Japan beta launch

#15

Post by jdswain »

disordinary wrote: post #14

I hope they expand throughout the pacific and come to New Zealand at some point, more competition and innovative features are what's needed.

I think I've managed to find a workaround for New Zealand. Stripe is in Australia and it is possible for a NZ company to open a bank account in Australia so this should work. It's not ideal as it does add some bank fees, but it appears to be a viable solution.

Re: Stripe enters Asia with Japan beta launch

#16

Post by withjive »

greggman wrote: post #13
sdrothrock wrote: post #9

Earlier quoted context omitted.

> We already accept bank transfers in private beta in the US and would obviously love to expand this to other countries once it's ready. I'd be interested in hearing your thoughts on what Stripe would offer in Japan in terms of being a bank transfer mediator. Unlike the US, bank transfers here are very simple and routine -- you can perform them at almost any ATM or online, and providing that they're done within busin…

They are also expensive. Usually $6 per transaction IIRC when I used to pay my rent.

Here in Thailand, instant bank transfers at any ATMs cost about 25 baht— roughly $0.75 USD per transaction.

With such an easy method of sending money between people, it's extremely handy. Compared to what I'm used to in Canada, only thing that comes close is e-interac payments via email which is still a pain.

Re: Stripe enters Asia with Japan beta launch

#17

Post by markburns »

sdrothrock wrote: post #8
paulsutter wrote: post #6

Earlier quoted context omitted.

The predominant use of credit cards in Japan is ecommerce / online, which is, of course, Stripe's target market. Japanese have on average 2.6 credit cards[1] and spend on average about $3000 a year on those cards. So yes, they're used less often than in the US but they have broad adoption. Japanese people often tell me that Japanese don't like to use credit cards. But ask them, do they have one? (of course! they say)…

> Japanese people have on average 2.6 credit cards[1] and spend on average about $3000 a year on those cards. So yes, they're used less often but they have broad adoption. I've never seen a really detailed report that drills down into where people use them. Most people I know with cards will use them (or are forced to use them) for internet/cell phone payments, then pay for anything they buy on their smartphone throu…

Well I've not looked into it myself yet, but apparently payments are a nightmare to implement in Japan. As they were in the US/Europe before Stripe/Braintree etc came along.

My opinion of what Stripe brings to the table in general is not so much that it is way better for the customer, but that it is way better for the retailer/developer.

I have never heard people focusing on the customer side for payment providers etc. In that regard you are right, which customer cares about who/what is behind a payment form?

But startups do care about simple painless payment integrations.

Re: Stripe enters Asia with Japan beta launch

#19

Post by snogglethorpe »

paulsutter wrote: post #6
sdrothrock wrote: post #2

It's nice to see Stripe coming here, but I wonder how much demand there really is for it. Many (Japanese) people I know would rather stick to bank transfers and payment at convenience stores than use credit cards. All of our company-to-company business is handled with bank transfers. The only reason we have a credit card is for international transactions, I guess. On a semi-related side note, I saw Square out in the…

The predominant use of credit cards in Japan is ecommerce / online, which is, of course, Stripe's target market. Japanese have on average 2.6 credit cards[1] and spend on average about $3000 a year on those cards. So yes, they're used less often than in the US but they have broad adoption. Japanese people often tell me that Japanese don't like to use credit cards. But ask them, do they have one? (of course! they say)…

> Japanese people often tell me that Japanese don't like to use credit cards. But ask them, do they have one? (of course! they say), do they use it online? (of course! they say). So it's true in real life, not just in this report.

Existing online services don't generally give you a lot of choice for payment.

"No other choice" != "Like".

Credit cards and bank transfers (which in Japan are very simple) have different strengths, but the one that sticks out for me is that a bank transfer keeps more control with the buyer, and exposes the buyer to less long-term risk: The service provider can steal your money by not providing the service, but they don't have any info they can use to steal money in the future.

Re: Stripe enters Asia with Japan beta launch

#20

Post by shioyama »

sdrothrock wrote: post #2

It's nice to see Stripe coming here, but I wonder how much demand there really is for it. Many (Japanese) people I know would rather stick to bank transfers and payment at convenience stores than use credit cards. All of our company-to-company business is handled with bank transfers. The only reason we have a credit card is for international transactions, I guess. On a semi-related side note, I saw Square out in the…

There are other developer-friendly options that handle offline payment methods in Japan (bank transfer, konbini, payeasy), e.g. Komoju: https://stackoverflow.com/questions/27368278/payment-gateway...
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