Adyen (AMS: ADYEN) has partnered with Qoo10, an online marketplace operated by eBay Japan. Adyen said itwill aim to “support Qoo10 with fast and stable payment processing, particularly during peak periods.”
Qoo10, a Japanese domestic marketplace, holds a large-scale sales event called “Mega Wari” every quarter.
One of the complexities that Adyen will look “to support is peak shopping periods.”
High traffic periods can “result in incomplete transactions as the payment system might not be able to handle the surge of orders, resulting in a poor shopping experience and cart abandonment.”
Adyen’s platform provides faster and more stable payment processing “on Qoo10 even in peak periods, giving eBay Japan the ability to manage and optimize payments on Adyen’s single platform.”
Using Adyen also means more secure card data storage “with network tokens – which converts regular card numbers into secure non-sensitive tokens.”
Network tokenization is an emerging technology and as such “not all issuers currently support it. To solve this challenge Adyen offers network token optimization which uses machine learning to choose between a network token or PAN payment to boost authorization rates.”
This drives an additional 1% uplift “in authorization rates for businesses.”
Yuji Tanaka, Head of Japan Controllership at eBay Japan, said:
“We chose Adyen’s seamless payment platform because we believe that its fast and stable payment processing will provide our customers with a pleasant shopping experience, even during sale periods. We believe that Adyen’s payment platform will continue to make a significant contribution to providing a more stable payment experience for the steadily growing e-commerce market.”
As covered, Adyen says it is “the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster.”
With offices around the world, Adyen works “with the likes of Meta, LVMH, SHEIN, Uber, L’Oréal, Cathay Pacific, Grab, Klook, and Singapore Airlines.”
The cooperation with eBay Japan “as described in this merchant update underlines Adyen’s continuous growth with current and new merchants over the years.”