Net Protections, Inc. (headquartered in Chiyoda-ku, Tokyo; CEO: Shin Shibata; “Net Protections”) is pleased to announce the launch of business matching for its Buy Now Pay Later (BNPL) services in partnership with The Chugoku Bank, Ltd. (headquartered in Okayama City, Okayama; President: Sadanori Kato; “Chugoku Bank”).
Background and purpose of the partnership
The Chugoku Bank is a financial institution of the Chugin Financial Group with 166 branches*1 mainly in the Chugoku region. Aiming to be a comprehensive financial services group that is "chosen" and "trusted" by local customers, the Bank has a 43.3% share*2 of the loan market in Okayama Prefecture, where its head office is located.
The Chugoku region has one of the largest concentrations of manufacturing industries in Japan. In recent years, as globalization has led to the hollowing out of industries and the expansion of foreign companies into Japan, it is important to expand market share and improve technological capabilities in the manufacturing and other industries in order for the regional economy to continue to grow.
As one of the ways to achieve this, Net Protections expects that companies in the Chugoku region will be able to focus on business growth with its BNPL services, which take care of all the payment and settlement processes and covers nonpayment risks for businesses, thereby freeing them from the burden of billing work.
In addition, this business partnership was concluded with the expectation that it would help businesses increase their sales by attracting customers who do not have credit cards or who feel that cash on delivery is too much trouble for them in the e-commerce market.
Through this initiative, Net Protections will start business matching with the Chugoku Bank customers for its BNPL services (NP Atobarai, atone, NP Atobarai air, and NP Kakebarai).
The Chugoku Bank expects to streamline operations and increase the sales of its customers with BNPL services, and Net Protections expects to increase the awareness of its BNPL services.
Both companies will continue seeking further possibilities for collaboration with this strong partnership.
*1 As of March 31, 2023
*2 Actual results for FY2022. From "Chugin Financial Group FY2023 Interim Financial Results Briefing Reference Materials
https://www.chugin-fg.co.jp/up_load_files/stockholder/ir_kikan/202309_shiryo.pdf
About the BNPL services
NP Atobarai
NP Atobarai is a Buy Now Pay Later (BNPL) service for BtoC e-commerce. Users can make purchases immediately and pay for them later. No sign-up or credit card is required to use. Merchants can prevent cart abandonment because they can satisfy BNPL demands. Also, merchants can focus on their main business because NP Atobarai takes on all of the BNPL operation process from credit screening to payment collection with a risk-free guarantee.
For more information about NP Atobarai: https://www.netprotections.com
(Japanese only)
atone
atone is a BNPL service for both online and in-store purchases. Users can make purchases immediately and pay for them later without registering a bank account, credit card, or adding funds. On the other hand, atone merchants can prevent cart abandonment which customers leave the site without completing their purchase. In offline stores, atone can contribute to cashless without losing customers who own credit cards but do not use them. The reward points program makes new acquisition and repeat purchases much easier.
For more information about atone: https://atone.be/ (Japanese only)
NP Atobarai air
NP Atobarai air is a BNPL service for on-site services such as equipment repair and housekeeping. Payment can be made after the service is rendered. No sign-up, credit card, or cash preparation on the day of service is required to use. Merchants can focus on their main business because NP Atobarai air manages all the settlement operations from credit screening, invoicing, to payment collection between merchants and their customers. It also covers non-payment risks.
For more information about NP Atobarai air: https://www.netprotections.com/air (Japanese only)
NP Kakebarai
NP Kakebarai is a BNPL service for BtoB transactions. Merchants can streamline their payment and settlement operations and focus on their main business because it manages all the settlement operations from credit screening, invoicing, to payment collection between merchants and their clients. It also covers non-payment risks. Furthermore, its unique credit screening system that does not rely on conventional credit bureau has a credit approval rate of 99%*3 including sole proprietors, which can be expected to expand sales channels and increase sales. Buyers can improve their cash flow by using NP Kakebarai.
For more information about NP Kakebarai: https://np-kakebarai.com/ (Japanese only)
*3 As of March 31, 2023
About the Chugoku Bank, Ltd.
Company Name: The Chugoku Bank, Ltd.
Representative: Sadanori Kato, President
Website: https://www.chugin.co.jp/
Founded:
December 21, 1930
Capital: JPY 15.1 billon
Head Office: 1-15-20, Marunouchi, Kita-ku, Okayama, Japan
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
