#Japan #Tokyo #B2B Payments #Net Protections #Mitsui Sumitomo Card

Strategic Partnership in B2B Payment Solutions

In a significant development for the B2B payment landscape in Japan, Net Protections, a subsidiary of Net Protections Holdings, has entered into a basic agreement with Mitsui Sumitomo Card regarding a partnership aimed at improving corporate payment solutions. This collaboration comes as companies increasingly face challenges associated with traditional billing methods and payment collection risks that stifle productivity.

Context and Purpose of the Partnership

As digitalization and cashless transactions continue to shape the B2B transactions within Japan, many organizations struggle with outdated billing practices. The ongoing manpower shortages and the introduction of regulatory requirements for electronic bookkeeping and invoice systems have escalated the need for businesses to embrace digital transformations.

Net Protections has positioned itself as a leader in this growing landscape, with over 30% annual growth in the installment payment services market. Leveraging their expertise in credit evaluation and operational frameworks, they have spearheaded advancements in corporate payment services through their NP Payment, facilitating companies' digital transitions.

On the other hand, Mitsui Sumitomo Card, recognized as a major player in cashless payment solutions, has expanded its range of financial services, including corporate cards and e-commerce payment solutions. Through this partnership, the two companies aim to utilize their advanced B2B payment solutions to create high-value services for a broader spectrum of corporate clients.

Details of the Partnership

The agreement outlines a structured approach to enhancing B2B payment services, focusing on two principal areas:

1. Joint Sales and Enhanced Client Referrals: Through Mitsui Sumitomo Card's network, the partnership will explore sales channels for NP Payment to corporate clients within the SMBC Group. This collaboration is set to address the outsourcing needs for billing operations, as well as offering protection against uncollected debts and other digital transformation necessities.

Additionally, there will be efforts to showcase Mitsui Sumitomo Card's suite of financial products, including their corporate cards and the Trunk digital finance service, to companies using NP Payment, enhancing the financial services available to clients.

2. Collaboration for Value Creation: In a bid to maximize the benefits of their offerings, Net Protections and Mitsui Sumitomo Card will investigate various collaborative measures, including integrating Mitsui Sumitomo's financing products with Net Protections’ superior system infrastructure.

Leadership Insights

Shin Shibata, the CEO of Net Protections Holdings, expressed his enthusiasm about this collaboration, stating, "We are thrilled to partner with a leading cashless payment provider like Mitsui Sumitomo Card. I am confident that by merging our insights in B2B payments with Mitsui Sumitomo's strong reputation and network, we can modernize Japan's commercial practices in a more intelligent way."

Company Profiles

Net Protections Holdings

• - Founded: January 2000
• - Headquarters: Chiyoda-ku, Tokyo
• - CEO: Shin Shibata
• - Business: Various after-payment services
• - URL: Net Protections

Mitsui Sumitomo Card

• - Founded: December 1967
• - Headquarters: Koto-ku, Tokyo
• - CEO: Yukihiko Onishi
• - Business: Credit card services, debit and prepaid card issuance, loan and guarantee services
• - URL: Mitsui Sumitomo Card

Through their combined efforts, Net Protections and Mitsui Sumitomo Card are setting a new standard in corporate payments, aimed at providing businesses with more efficient, reliable, and innovative solutions to navigate the complexities of today's financial landscape.