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 Hyakugo Bank, Ltd. (headquartered in Tsu, Mie Prefecture; President: Masakazu Sugiura; “Hyakugo Bank”).
Background and purpose of the partnership
The Hyakugo Bank is based on solid, community-based management and has 144 branches, mainly in the Tokai area. As part of its mid-term management plan, Hyakugo Bank is working to improve productivity with IT strategies and helping clients and local communities to adopt IT through its consulting services.
The Tokai area, which is the main business area of Hyakugo Bank, is an area with a high concentration of manufacturing industries. However, due to the improvement of technological capabilities of overseas countries and the shrinking domestic market, competitiveness of the companies in the Tokai area is declining. It is important for the companies in the Tokai area to improve their industrial competitiveness by improving their business efficiency and expanding their business deployment. As one of the ways to achieve this, Net Protections has partnered with the Hyakugo Bank with the expectation that its BNPL services help the companies in the Tokai area streamline their settlement processes, improve customer experience, and expand their product nationwide.
Through this initiative, Net Protections will start business matching with the Hyakugo Bank customers for its BNPL services (NP Atobarai, atone, NP Atobarai air, and NP Kakebarai). The Hyakugo 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.
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 Hyakugo Bank, Ltd.
Company Name: The Hyakugo Bank, Ltd.
Representative: Masakazu Sugiura, President
Website: https://www.hyakugo.co.jp/
Founded: November 19, 1878
Capital: JPY 20.0 billon
Head Office: 21-27, Iwata, Tsu, Mie Prefecture
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/en/
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
