Hello, this is SOOM.
Today we’re going to introduce new partner which we agreed to make a contract at the conference held in Japan in April.
On April 23 SOOMPAY signed a business agreement with Pay Route International and J Six Holdings, cosmetics company in Japan.
The founder of the SOOMPAY(on the left) shakes hand with Toru Hasgawa(president of Pay Route International, right) after signing the contract.
Today we will introduce Pay Route business and joint future plans for collaboration. J Six Holdings will be introduced later.
LOGO of PAYROUTE (Homepage : https://www.pay-route.co.jp/company/)
Pay Route is a “VAN” company that provides payment terminals to credit card merchants in Japan. VAN supplies the card readers to the merchant and receives fee per contract. Currently Pay Route offers the following services in Japan
Credit card payment
Online payment
Payment by smartphone
Payment at convenience store
Mobile payment (QR code)
PAY ROUTE offers credit card payment services and already has many franchises in Japan. However, with the advent of the new payment system, number of people using credit cards has decreased. In addition, number of Chinese tourists in Japan is increasing tremendously; and Chinese wants to use the QR code on smartphone but there is no infrastructure to provide such payment solutions. In other words, the number of Chinese tourists who want to pay with WeChat pay or Alipay is growing, but there are only few stores that can provide tourists such option as QR code payment.
PAY ROUTE will provide encryption technology and POS devices for financial payments, while as SOOM will support development of Blockchain-related technologies and support to obtain licenses for Chinese payments services.
We are currently negotiating final terms and conditions with PAY ROUTE. We will announce once there are any further updates.
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“Business Agreement with Pay Route in Japan”