Blockchain firm TBCASoft announced an integration of its HIVEX cross border payment system with Japan’s largest payment app PayPay. This enables visitors from Taiwan to use their domestic mobile payment solutions to checkout using QR codes while visiting Japanese stores. TBCASoft positions HIVEX as a cross border solution for mobile payment service providers (MPSPs), which will go live in Q4 2023.
The collaboration in Taiwan is with three payment apps, JKOPAY, PXPay Plus, and E.SUN Bank, representing more than 12 million Taiwanese users. While South Koreans make up the largest number of visitors to Japan, Taiwan is number two.
PayPay claims to be Japan’s largest payment app, with more than 58 million users and 67% of transactions. It is a joint venture between Softbank and Z Holdings, which in turn is a joint venture with South Korea’s Naver. Both Naver and Softbank (Corp) invested in TBCASoft’s $25 million Series B in 2021.
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