Nudge's CCaaS Platform Empowering Retailers' Financial Ventures

Nudge's Innovative CCaaS Platform

In a groundbreaking development in Japan’s financial services landscape, Nudge Corporation, headquartered in Chiyoda, Tokyo, has introduced the 'Credit Card as a Service' (CCaaS) platform. This innovative platform aims to facilitate retailers and service providers with existing customer bases to launch their own branded credit card services. This move marks a significant leap toward the establishment of challenger banks in Japan.

Background Behind the Introduction of CCaaS

The integration of financial services within the retail and service sectors is rapidly gaining traction. Many leading retailers and infrastructure businesses are recognizing credit card issuance as a crucial supplemental revenue stream. With the power of advanced Customer Relationship Management (CRM) systems, these businesses aim to deepen their understanding of customers through transaction data collected from everyday payments. By utilizing physical cards and dedicated apps to maintain ongoing communication, companies can enhance customer engagement, thereby diversifying revenue streams, including transaction fees and interest income, while maximizing Customer Lifetime Value (LTV).

However, establishing a company as an official card issuer traditionally entails significant costs and lengthy timelines for obtaining necessary licenses and developing infrastructure. Nudge addresses these hurdles by offering an integrated platform that encompasses the financial licenses and various operational foundations needed to operate the next-generation credit card, ‘Nudge.’ Through CCaaS, new entrants into the financial sector gain the ability to provide cutting-edge financial experiences without the burden of substantial investments or the complexities of operating as a traditional issuer.

Key Features of CCaaS

Nudge has evolved its existing card issuance functionalities into a robust support system that empowers businesses to dive into financial services more effectively.

1. Dedicated App for Brand Cohesion

The CCaaS platform facilitates the creation and provision of a custom smartphone app for each company, which allows communication with customers to take place within a brand-centric world. This means that routine app functionalities like payment notifications and transaction histories can directly enhance customer engagement opportunities and promote the company’s services.

2. Enhanced CRM Through Seamless Customer ID Integration

CCaaS ensures a deep integration of existing customer ID systems with credit card functionalities. This enables businesses to leverage transaction data for precise marketing strategies. They can offer unique points and incentives tied to spending amounts that mirror existing loyalty programs, thus enriching the customer experience.

3. Comprehensive Financial Operations Support

While providing the flexibility akin to that of a traditional issuer, Nudge manages crucial operations such as identity verification (eKYC), credit data management, fraud detection, and customer support. This allows partnering companies to focus solely on customer experience design and marketing while relieving them of financial compliance complexities and system investment burdens.

Nudge's initial user of the CCaaS is viviON Corporation, also based in Tokyo. They will collaborate to roll out the 'viviON Card' alongside the 'viviON Credit Card by Nudge' application.

For detailed information on the viviON Card, please refer to the press release.

Future Prospects

Nudge envisions expanding the CCaaS platform to enable more companies to launch integrated financial services that align closely with their own offerings. Beyond the entertainment industry, businesses in retail, subscription services, and other sectors with customer bases stand to benefit. This approach aims to foster deeper relationships with customers, creating new values through innovative card services.

About Nudge Corporation

Founded in February 2020, Nudge embodies the mission of creating future financial experiences through individual actions. With its cloud-native credit card service platform, it stands as one of Japan's few licensed 'Certified Comprehensive Credit Purchase Intermediation Businesses,' offering the next-generation credit card, 'Nudge.' Nudge champions a flexible and value-sensitive organizational culture, advocating for a 'Work from Anywhere' ethos that helps to redefine the future of financial service.