Japanese consumers to have new option when it comes to mobile payments
Leading mobile payments firm Square has announced that its mobile commerce platform of the same name is now available in Japan. This represents the first time the company has expanded beyond the North American market. Asia has become one of the most attractive markets when it comes to mobile commerce due to the high level of penetration that mobile technology has been seeing over the years. Japan, in particular, has proven to be a hub of activity when it comes to mobile payments.
iPhone consumers may be welcoming of Square
The iPhone is one of the most popular mobile devices among Japanese consumers. This is somewhat ideal for Square as the company’s flagship mobile payments platform was designed for the iOS platform before also being made compatible with the Android platform. Square believes that it can find favor with a multitude of consumers that are eager to participate in mobile commerce without having to embrace NFC technology or purchase a new mobile device just to make mobile payments.
Competition expected to be fierce
Square’s entry into the Japanese market is being considered very bold as the country is home to several mobile commerce initiatives that have already successfully enthralled many consumers. Square is expected to face staunch competition from NTT docomo and KDDI, two of the largest companies in the mobile commerce sector in Japan. PayPal has also established a strong foothold in Japan through its partnership with Softbank. Square believes that it will be able to win over consumers with its flare for design.
Future of mobile payments in Japan is uncertain for Square
Square has managed to establish a great deal of popularity in the mobile payments space. The company has helped expand mobile commerce throughout North America and has proven that it can compete with other companies that exist in this increasingly crowded field. The Asian market is quite different from that of North America, however, which makes Square’s future in Japan anything but certain.