21st FinTech Makes Strategic Investment In Payment for
21st Financial Technology (21st FinTech) has reached an agreement for a capital and business alliance with Payment for, a leading Japanese payment software service provider.
This partnership will strengthen the service integration between both companies and accelerate the deployment of 21st FinTech services in the Asian market, while also providing robust support for the business expansion of Payment for's merchants.
SMBC Nikko was the financial advisor to 21st FinTech. TMI Associates and Anderson Mori & Tomotsune were the legal advisors to 21st FinTech. CTBC Bank, Mizuho Bank, and MUFG Bank provided funding to complete this transaction. Additionally, President International Investment Holdings, the investment arm of Uni-President, Taiwan's retail conglomerate and operator of 7-Eleven, participated as a convertible bond investor.
Background of the Capital and Business Alliance
21st FinTech is a fintech start-up operating in Japan, Taiwan, and Southeast Asia. The company was recently selected for the Tokyo Stock Exchange’s Asia Startup Hub program, reflecting its ambitions to consider a future listing on the Tokyo Stock Exchange.
Payment for, with the mission of "Transforming Money and the Economy with Technology," goes beyond the framework of a "payment processing company" and provides unique solutions as a "payment software service provider" that not only offer payment functions but also enhance business operational efficiency.
Due to the digitalization, the widespread adoption of cashless payments, and the resulting significant changes in the financial environment, the needs related to money are becoming more diverse. In this context, both companies have decided to form this partnership to combine strengths and create new business opportunities that are safe and highly convenient.
Overview of the Capital and Business Alliance
1. Strengthening Security and Promoting Fraud Detection
The partners will integrate 21st FinTech's AI-driven risk management system into Payment for's services to enhance fraud detection. Under this robust security framework, they aim to provide our merchants with safer transaction environment.
2. Building Overseas Sales Channels
The partners will provide Payment for's merchants with access to 21st FinTech's consumer network, which includes over 3 million users. This will enable Japanese merchants to expand their businesses internationally through 21st FinTech's channels.
3. Expanding Japanese Services into the Taiwanese Market
The partners plan to introduce Payment for’s well-established services in Japan, such as its membership management and payment system "Kaihi Pay" and the early wage access service "CRIA," into the Taiwanese market.
Future Ambition
Building on the strong partnership with Payment for, 21st FinTech will maximize the utilization of both companies' resources and technological capabilities. By continuously providing more comfortable and secure fintech services, the partners aim to support our customers' growth and enhance sustainable corporate value.
Norbert Gehrke
