Net Protections, Inc. (headquartered in Chiyoda-ku, Tokyo; CEO: Shin Shibata; “Net Protections”) is pleased to announce that its subsidiary Net Protections Vietnam Co., Ltd. (“Net Protections Vietnam”) began providing the Buy Now Pay Later (BNPL) service, AFTEE, as of June 5, 2023 (*1). In addition, Net Protections Vietnam has started a partnership with Haravan Technology Corporation, Inc., a leading local shopping cart system provider, aiming to contribute to the revitalization of product distribution in e-commerce.
*1:We offer this service as a sales agency
Background of AFTEE’s launch in Vietnam
In Vietnam, online shopping demand is on the rise, and as a consequence, the use of alternative payment services is growing. In addition, with the recent focus on issues related to online shopping inspections and delivery, an increasing number of online shoppers are placing high priority on security when it comes to payment services. Net Protections Vietnam was established in April 2022 to contribute to realizing a society where people can shop with peace of mind and to the revitalization of product distribution in the e-commerce market by providing BNPL services. On June 5, 2023, Net Protections Vietnam started a partnership with “Haraweb,” a shopping cart system provided by Haravan Technology Corporation, a leading local shopping cart system provider, and began providing the BtoC BNPL service, AFTEE, in Vietnam. Compared to other payment services, BNPL services can contribute to the revitalization of product distribution in e-commerce, as they have the property of facilitating secure and convenient transactions , and users can pay after they have checked the product. There is no need to consider when they will be at home or to prepare cash for a delivery.
About AFTEE
AFTEE is a BtoC BNPL service. Users can pay with their mobile phone number only and can choose to pay all at once, or in up to 12 installments. This allows people who are apprehensive about shopping online or using credit cards, or who do not have a credit card, to shop safely and conveniently. Merchants can expect to acquire a broader range of customers by satisfying the needs of users who want to shop with BNPL. Moreover, merchants can be free from troublesome operations because Net Protections handles all the payment processing and guarantees risk-free (nonpayment risk) transactions. AFTEE’s strengths are its highly sophisticated credit screening system and delinquency rate control technology. Leveraging the know-how of the BNPL service for Japan, NP Atobarai, which has a track record of over 20 years of operations, AFTEE was launched in Taiwan in 2018, where it has already achieved a high credit approval rate of 96% with only the minimum required information. In addition, it is growing fast online and in other markets, and there are already more than 2,800 member stores in Taiwan. AFTEE will continue to strive to provide convenient and secure payment services and expand its coverage so that more consumers can enjoy a variety of payment experiences and options.
About Net Protections Vietnam Co., Ltd.
Company name: Công ty TNHH Net Protections Vietnam (Net Protections Vietnam Co., Ltd.)
General Director: Tsukasa Nishiura
Website: https://aftee.vn/
Business description: Sales agency of a BNPL service, AFTEE
Office: 87A Ham Nghi, Nguyen Thai Binh ward, District 1, Ho Chi Minh City, Vietnam
About Net Protections, Inc.
Company Name: Net Protections, Inc.
(Net Protections Holdings, Inc. [Code: 7383, the Prime Market of the Tokyo Stock Exchange] Group)
Representative: Shin Shibata, CEO
Website :https://corp.netprotections.com/
Business Description: Provision of Buy Now Pay Later (BNPL) services
Founded: January 2000
Capital: JPY 100 million
Head Office: Sumitomo Fudosan Kojimachi First Building 5th Floor, 4-2-6 Kojimachi, Chiyoda-ku, Tokyo 102-0083, Japan
Direct any inquiries regarding this release to:
Net Protections PR
Email: pr@netprotections.co.jp
