#Japan #Osaka #BNPL #AtoJ #Raksul

Collaboration of Raksul and AtoJ

Raksul Co., Ltd., based in Tokyo, has teamed up with AtoJ, located in Osaka, to launch a novel solution aimed at improving the payment collection processes for Buy Now Pay Later (BNPL) companies. This collaboration centers on utilizing Raksul's personalized Direct Mail (DM) services along with AtoJ's innovative online dispute resolution platform, "OneNegotiation" (ワンネゴ), to enhance and streamline the often complex process of payment collections.

Overview of the Solution

The new solution combines Raksul’s targeted and personalized DM approach with AtoJ’s online negotiation capabilities, providing BNPL companies with a powerful toolkit to address unpaid debts. The service will establish secure postal channels for communicating with debtors while promoting resolution through interactive online dialogues.

Specifically, a unique QR code will be sent via personalized DM to debtors, allowing them to access their unpaid balances through the OneNegotiation platform where they can engage in dialogue to reach an agreement regarding settlements and payment plans. This ensures that notifications reach the recipients more reliably than traditional methods such as email or SMS, significantly reducing the burden on businesses while providing users with a clearer, non-confrontational opportunity to resolve their payment issues.

The Necessity for Efficient Solutions

The BNPL market has seen significant growth recently, largely due to the expansion of the eCommerce sector, creating a promising landscape for businesses operating in this sector. According to a study by Yano Economic Research Institute, the domestic market for BNPL services is projected to expand to reach 1.7 trillion yen by the fiscal year 2024, potentially growing to around 2.8 trillion yen by 2029.

As this sector flourishes, however, the challenges of increasing overdue payments and uncollected receivables have become common issues impacting providers. The need for effective methods for collecting overdue payments is essential as businesses must transition from merely generating sales to ensuring they secure payments effectively while maintaining customer relationships.

In order to succeed, BNPL providers are now being tasked with implementing integrated solutions that enhance collections. This means adopting collaborations, akin to the one between Raksul and AtoJ, that foster two-way communication rather than simply sending one-sided notices, thus allowing consumers to address their financial situations with guidance.

Future Prospects

With this foundational collaboration, both Raksul and AtoJ aim to expand their services beyond BNPL providers to include subscription services, membership-based services, and B2B transactions. Their goal is to establish a comprehensive infrastructure that encompasses not only credit evaluations and transaction experiences but also robust mechanisms for collecting unpaid debts and managing receivables sustainably.

Features of the Platforms

OneNegotiation (ワンネゴ)

This platform allows companies to communicate efficiently with debtors, facilitating resolution leading to payment completion through an online dialogue. The platform has managed over 40,000 applications to date, with real-time notifications and an easy process for both businesses and consumers to agree on repayment terms.

Personalized DM Service

Raksul's DM service stands out by embedding individual QR codes within its mailings, allowing real-time tracking of responses. This significant feature creates a direct link between the company’s outreach efforts and customer engagement, transforming traditional methods with digital innovation. Companies can deliver tailored content based on customer feedback, optimized creativity, and message formatting, all while integrating with existing customer relationship management systems.

Conclusion

As Raksul and AtoJ continue to develop their partnership and enhance their integrated solutions for BNPL providers, they are paving the way for a future characterized by more effective payment resolution processes that prioritize both business efficiency and customer satisfaction. This initiative reflects the evolving landscape of financial services while addressing the critical issues arising from rapid growth in the BNPL sector.