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Qoo10 adopts Adyen’s payment platform
Adyen, the financial technology platform of choice for leading companies, announces a partnership with Qoo10, an online marketplace operated by eBay Japan. By seamlessly managing and optimizing payment flows in a single platform, Adyen will support Qoo10 with fast and stable payment processing, particularly during peak periods.
Qoo10, a popular Japanese domestic marketplace, holds a large-scale sales event called “Mega Wari” every quarter. One of the complexities that Adyen will look to support is peak shopping periods. High traffic periods can result in incomplete transactions as the payment system might not be able to handle the surge of orders, resulting in a poor shopping experience and cart abandonment. Adyen’s platform provides faster and more stable payment processing on Qoo10 even in peak periods, giving eBay Japan the ability to manage and optimize payments on Adyen’s single platform.
Using Adyen also means more secure card data storage with network tokens – which converts regular card numbers into secure non-sensitive tokens. Network tokenization is an emerging technology and as such not all issuers currently support it. To solve this challenge Adyen offers network token optimization which uses machine learning to choose between a network token or PAN payment to boost authorization rates. This drives an additional 1% uplift in authorization rates for businesses.
Yuji Tanaka, Head of Japan Controllership at eBay Japan, said, “We chose Adyen’s seamless payment platform because we believe that its fast and stable payment processing will provide our customers with a pleasant shopping experience, even during sale periods. We believe that Adyen’s payment platform will continue to make a significant contribution to providing a more stable payment experience for the steadily growing e-commerce market.”
Warren Hayashi, President, Asia Pacific at Adyen, said, “We are delighted to be able to offer a more seamless experience to shoppers through the adoption of our platform by Qoo10. The pandemic has led to a rapid shift to online shopping and the demand for a higher-quality customer experience. We will continue to promote Adyen’s platform to support various businesses by optimizing payments and leveraging insights gained from payment data.”
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