Citcon Inc. has taken its global expansion a step further with the launch of its e-commerce platform in South Korea and Japan.
“With on the ground presence in South Korea and Japan, we can help merchants of all types expand their e-commerce offerings into these fast-growing markets, enabling them to securely transact in local currencies and native languages preferred by shoppers in these regions through one integrated technology stack.”
Merchants associated with the mobile wallet payment provider can now make transactions from a total of 30 global and regional payment methods, which include eight global digital wallets, all made through a single payments gateway.
“We are enabling merchants to enter global markets where e-commerce is expanding rapidly, yet market participation requires a localized payments solution,” said Chuck Huang, founder and CEO of Citcon.
In South Korea, the service will allow clients to process direct bank transfers through various digital wallet platforms such as Toss, KakaoPay, NaverPay and Payco. In Japan, it will enable PayPay, RakutenPay, LinePay, AliPay and UnionPay.
Japan and Korea are the second- and third-largest markets credited with the growth on a local scale, with China leading both countries and the fourth and fifth worldwide. Both countries contribute more business to the digital commerce industry than Germany, France and India combined. With this launch, the company intends to contribute to the Asian Pacific retail e-commerce market, which reached $2.99 trillion in 2021, a press release reports.
“With on the ground presence in South Korea and Japan, we can help merchants of all types expand their eCommerce offerings into these fast-growing markets, enabling them to securely transact in local currencies and native languages preferred by shoppers in these regions through one integrated technology stack,” Huang said.
The platform offers solutions intended to facilitate the integration of multi-payment platform management. Merchants also will benefit from reduced processing fees, higher acceptance rates and fraud protection with the use of 3D Secure 2.0 standards.
“Enabling cross-border commerce requires not only an understanding of the market dynamics and transaction preferences of consumers but also the customer experience insight to ensure a smooth checkout process,” said Wei Jiang, Citcon COO and president.
The California-based company’s partners include Visa, MasterCard, AMEX, JCB, DinersClub, BC Card, Lotte, Hyundai, KB, Samsung, Samsung App Card Pay, Shinhan, Woori, Hana, Citibank, Post Office, Kwangju, L.Pay, Kakaobank, MG, Suhyup, Jeonbuk, Shinhyup, Jeju, KDB, Hana, KB Able, K Bank, Mirae Asset and KEB.
“Our customer experience pathway delivers a checkout experience whereby customers are seamlessly served the appropriate payment window or app interface, built-in authentication layers ensure transaction fidelity, and quick approval and order confirmation provide confidence to both customer and merchant that their purchase has been received safely and payment has been processed,” Jiang said.