Recently, CCI Holdings and LUN Partners Group jointly make strategic investment in NETSTARS, a QR code aggregate payment platform based in Japan. The current strategic investment would facilitate the cooperation between NETSTARS and other financial technology companies that it invests, so that NETSTARS can go out of Japan and continue to explore the overseas market.
As an aggregate payment platform, NETSTARS was founded in 2009 by a team mainly consists of Chinese who live in Japan. Aggregate payment, also known as the fourth party payment, refers to a process in which a commercial tenant collects the payment by adopting multiple modes of payment after it registers with an aggregate payment company. The aggregate payment platform StarPay founded by NETSTARS integrates a number of mobile payment companies at home and abroad such as PayPay, LINE Pay, WeChat Pay, Alipay and Unionpay etc., and it renders service to all kinds of merchants in the mode of hardware+ payment solution, so Japanese people and overseas tourists can make the payment by scanning the QR code at the stores in Japan.
With the corporate vision of Gateway toward the future of Cashless Society, NETSTARS now serves more than 200,000 merchants in Japan, and the number of QR code payments that it handles accounts for 23.22% of the total in Japan, which ranks first of all enterprises in the aggregate payment industry of Japan. In the future, NETSTARS would further launch value-added services such as financial data service and online promotion for merchants and so on.
In Japan, where NETSTARS is located, the proportion of cashless payment is below 20%, and the relevant development is quite slow. However, as the number of Chinese tourists traveling to Japan is soaring year by year, great contribution has been made to the amount of consumption in Japan; naturally, the need for mobile payment by Chinese tourist also becomes an impetus for the introduction of QR code payment by Japanese merchants. Besides, to promote the digitization of payment, in April 2018, Japanese government drew up a plan guided by the vision of cashless payment and aimed to increase the proportion of cashless payment to 40% by the year of 2025. Aggregate payment companies like NETSTARS entered the stage of development bonus as a general port that connects local QR code payment enterprises with overseas ones.
CCI Holdings makes the strategic investment in NETSTARS, because it highly appreciates the first mover advantage of Japanese aggregate payment industry which acts a bridge that connects the local markets with the overseas market, and there is a good development prospect of cashless payment in Japan. With the advent of Games of the Tokyo Olympic in 2021, the consumption by overseas tourists will create enormous business opportunity for NETSTARS. CCI Holdings would like to provide better services for the upstream and downstream transactions between the paying agency and the merchants and accelerate the development of aggregate payment industry in Japan.
Following investing in dianping.com and Beijing Qihoo Technology Co., Ltd., CCI Holdings makes strategic investment in the mobile internet industry and spares no effort to look for excellent and fast-growing enterprises at the industrial chain of digital economy, and constantly pays attention to promising e-commerce unicorns born out of the new development in the era.