Net Protections Inc. (headquartered in Chiyoda-ku, Tokyo; CEO: Shin Shibata; "Net Protections") and Orient Corporation (headquartered in Chiyoda-ku, Tokyo; CEO: Tetsuo Iimori; "Orico") have signed a memorandum of understanding to work together in a comprehensive business alliance providing a range of services including Buy Now Pay Later (BNPL).
Background and Overview of the Memorandum of Understanding
Net Protections and Orico, which has a network of 840,000 participating businesses nationwide and 11 million credit card users, signed an agreement on a business alliance for the payment service "NP Atobarai air" in August 2021. Since then, the companies have worked to popularize and expand BNPL services across all BtoC service markets and to offer highly convenient services to participating businesses and users.
To gain further synergy within their alliance, the companies look forward to working together in BtoC and BtoB markets across a range of services, moving into new areas of cooperation using their existing services, and supporting each other via promotions and in raising awareness of their services through this Memorandum of Understanding.
Comments from Representatives of Both Companies
Tetsuo Iimori, CEO of Orient Corporation
We are delighted to sign a Memorandum of Understanding for comprehensive collaboration with Net Protections, a leader in Japan in the BNPL market, which is rapidly growing globally.
We look forward to contributing to a highly convenient cashless future for our customers by working with Net Protections to popularize and expand the various services we offer. We will be working together across a wide range of areas on the road ahead to meet the payment and financial service needs of our customers and participating businesses.
Shin Shibata, CEO of Net Protections Inc.
We are delighted to be recognized as a leading company in Japan's BNPL services sector, and to sign the Memorandum of Understanding to work together in a comprehensive business alliance for BNPL services with Orico.
As we go forward, no doubt our alliance will mean that we can offer even greater convenience to our participating partners and users by aligning our networks of affiliated businesses and our operations, which will accelerate the growth of our services and corporate value.
With the mission of "Create New Standard," Net Protections will continue to expand and grow our business as a comprehensive provider of BNPL services.
Overview of Orient Corporation
Orico has 108 branches in all 47 prefectures across Japan, with 840,000 participating businesses and 11.09 million credit card users(※). The company operates across a wide array of sectors providing a host of payment products and services. Core services offered include auto financing, consumer credit, credit cards, guarantees for banks, online payment services, and payment collections.
※）As of the end of September 2021. Figures based on consolidated business results.
【Company Name】
Orient Corporation
【CEO】
Tetsuo Iimori
【Business Outline】
Cards / Financing
Payments / Guarantees
Product Payment Installments
Bank Guarantees
【Founded】
1954
【Capital】
150 billion JPY (as of March 31, 2021)
【Headquarter】
5-2-1, Kojimachi, Chiyoda-ku, Tokyo 102-8503
Overview of Net Protections, Inc.
Net Protections, Inc. is a pioneer company in Buy Now Pay Later (BNPL) services in Japan and is leading the market with the largest market share (※A). In 2002, Net Protections launched its first service, NP Atobarai, a BNPL that guarantees risk-free transactions for businesses and provides a deferred payment for customers in Japan for the first time. In FY2020, NP Atobarai’s annual transaction volume has hit the growth rate of 116% compared to the previous fiscal year. NP Atobarai is used by numerous enterprises with over 15.8 million unique users in Japan (※B) and has processed more than 280 million transactions to date. In 2011, Net Protections released NP Kakebarai, a BNPL service for BtoB. NP Kakebarai has grown 127% yearly and played a role as the dominant BtoB payment service in Japan. In 2017, Net Protections launched atone, BtoC BNPL service with membership benefits that offers better shopping experience. In 2018, Net Protections released AFTEE, BtoC BNPL service in Taiwan.
Net Protections has accumulated transaction data and knowledge since its first service launched, which has enabled it to build a sophisticated credit screening system and solid operation skills. Net Protections always pursues creating a society where everyone can do business safely and easily.
【Company Name】
Net Protections, Inc.
【CEO】
Shin Shibata
【Website】
https://corp.netprotections.com/
【Business Outline】
BtoC E-Commerce BNPL Service “NP Atobarai” （”Buy Now Pay Later (BNPL)” Service）
BtoB BNPL Service “NP Kakebarai”
BtoC BNPL Service “NP Atobarai air” for day-to-day services
BtoC BNPL Service with membership benefits “atone”
BtoC BNPL Service in Taiwan “AFTEE”
Reward Point Program: NP Point Club
【Founded】
January, 2000
【Capital】
JPY 100 million
【Headquarter】
SUMITOMO FUDOSAN KOJIMACHI FIRST BUILDING 5F, 4-2-6 Kojimachi, Chiyoda-ku, Tokyo 102-0083 Japan
※A）Calculated based on the estimated size of BNPL market in Japan of JPY882 billion in FY2020 and the aggregate of GMV of NP Atobarai and atone in FY2020 of JPY360 billion. The estimated size of BNPL market in Japan is provided from Yano Research Institute “Online Payment/Settlement Service Providers 2021”
※B）The number of individual unique users of NP Atobarai based on the matching of duplicative names and phone numbers during FY3/2021 (April 1, 2020 to March 31, 2021).
Direct any inquiries regarding this release to:
Direct any inquiries regarding this release to:
JCB
EMAIL：jcb-pr@jcb.co.jp
Net Protections, Inc.
EMAIL：pr@netprotections.co.jp
