A New Addition to PG Multi-Payment Service: Bank Transfer (Virtual Account) Add "Bank transfer (Virtual Account)" to "PG Multi-Payment Service "
~Allocation of a dedicated account for each transaction makes it easy to identify the transferee and reconcile the payment~

GMO Internet Group develops non-face-to-face credit card payment processing business GMO Payment Gateway, Inc. (TSE partial: securities code 3769, President & Chief Executive Officer: Issei Ainoura hereinafter referred to as GMO-PG) adds "Bank transfer (Virtual Account)" to allocate a dedicated transfer account for each transaction in "PG Multi-Payment Service". It was launched on Monday, April 18, 2016.
In general Bank transfer, it takes time and effort to reconcile payments, such as when the names of the purchaser and the transferee are different, but with "Bank transfer (Virtual Account)", a virtual transfer account (virtual account) can be assigned for each transaction and the transfer status can be checked by account number, so EC businesses can smoothly identify the transferee and reduce the payment verification work.

Japan As of 2014, the e-commerce market in Japan has expanded to a scale of 12.8 trillion yen (up 14.6% from the previous year) ^*, and the payment method for purchasing goods and services is diverse, including credit cards. In particular, "Bank transfer", which transfers the payment price directly to the bank account of the e-commerce business, does not require special registration and can be payment even by users who do not have a credit card, so there is a certain consumer need.
However, in Bank transfer, it is necessary for e-commerce businesses to check the status of purchasers' transfers one by one on their own accounts, so when the number of transactions is enormous, or when the purchaser is making a transfer under a different name or through an agent, it takes time and effort to identify the transferee, and the verification work is a big burden.
Therefore, GMO-PG has added "Bank transfer (Virtual Account)" to "PG Multi-Payment Service", which allocates a virtual account (virtual account) for each transaction. In this service, the transfer status is managed by the assigned account number, so payment verification can be easily performed even if the name of the transferee is different from the purchaser.
" Bank transfer (Virtual Account)" is expected to improve efficiency not only in e-commerce businesses that operate various online shops, but also in the educational market such as preparatory schools, cram schools, lessons, and online schools, where there is a lot of payment on Bank transfer, and in the payment business of BtoB transactions that collect money by Bank transfer and cash.

Ministry of Economy, Trade and Industry From "26 Market Survey on E-commerce"

"Bank transfer (Virtual Account)" is a service that allows you to assign a virtual transfer account (virtual account) for each transaction and manage the purchaser by linking it to the account number. When a product purchaser or service user selects Bank transfer as a payment method for the payment, GMO-PG will set the account number of the virtual account exclusively for the transaction, and GMO-PG will notify the EC business operator of the status of the deposit to the virtual bank account. Since the account number differs for each transaction, e-commerce businesses can reduce the time and effort required to reconcile payments, eliminate delays in the provision of products and services due to delays in payment confirmation, and make it easier to identify non-payment recipients.
Since this service is provided as a payment method of "PG Multi-Payment Service", EC businesses can centrally manage other payment method such as Credit card payment and CVS Payment without developing a "Bank transfer (Virtual Account)" system.

< About Service Plans>

"Bank transfer (Virtual Account)" offers the following two service plans, which EC businesses can choose according to their needs. In addition, we will estimate the usage fee individually.

"PG Multi-Payment Service" is a comprehensive SaaS-based payment service that provides various payment method such as convenience store storage, electronic money, cash on delivery, Account transfer, PayPal, carrier payment, buy now pay later, and multi-currency payment, including "Bank transfer (Virtual Account)" and credit cards added today. E-commerce businesses can select and install and add the payment method they need at any time, and can process and manage all payment on a single web screen.

GMO Payment Gateway accepts payment processing services including credit cards to 65,652 merchants (as of December 2015 of the GMO Payment Gateway Group), including online businesses such as online shops and digital content, businesses that charge monthly fees such as NHK and subscription, and public entity such as the Japan Pension Service and the Tokyo Metropolitan Government. We provide. We aim to provide a safe and convenient payment for consumers and businesses, and to be the infrastructure for Japan payment processes. As a leading company in the payment industry, we will lead new innovations such as FinTech and contribute to improving the EC ratio of Japan.

GMO-PG (Company Profile)

URL :https://corp.gmo-pg.com/en/

GMO-PG (Service)

URL :https://www.gmo-pg.com/en/