SINGAPORE, Oct. 5, 2021 /PRNewswire/ -- MonotaRO, one of Japan's biggest ecommerce companies for maintenance, repair and operation supplies, optimizes its offering for business buyers outside of Japan, adopting Adyen (AMS:ADYEN), the payments platform of choice for many of the world's leading companies, as its online payments provider across multiple markets in Southeast Asia. Powered by Adyen's single platform, MonotaRO offers a more intuitive checkout process and access to multiple payment methods popular in Singapore, Malaysia, Vietnam, Philippines and Thailand, expanding their potential reach.
A data-led retailer, MonotaRO's backend system integrated seamlessly with Adyen's solution, allowing the ecommerce player to optimize their payments regionally and quickly. MonotaRO's customers can now enjoy a more seamless checkout process on the company's website with multiple payment options that are popular across Southeast Asia. The addition of Adyen's Pay by Link solution further simplifies the invoicing process for both MonotaRO and its overseas business buyers who prefer paying via a payment link instruction.
Through Adyen's single platform, MonotaRO can now make granular adjustments to market-specific risk profiles to make the checkout experience faster and simpler, even in the diverse Southeast Asian payment landscape. Using a combination of Adyen's market-specific insight and integrated data allows MonotaRO to strike the right balance between sufficient risk management settings and smooth transactions. In addition, MonotaRO can now have a single view of all their Southeast Asia Dynamic 3D Secure transactions, allowing them to make adjustments to lower drop-off rates and increase conversions while still guarding against fraud.
Only a one-time integration of Adyen's technology and the maintenance of a single technical connection is required to serve the Japanese ecommerce company's markets outside of Japan. Other backend efficiencies enabled by Adyen include real-time reporting and simplifying complex financial reconciliation.
"In the wake of the pandemic and with safety restrictions in place, we experienced a surge in retail orders across key markets in Southeast Asia including Singapore, Malaysia, Vietnam, Philippines and Thailand," said Seiji Nishiguchi, Head of Overseas Business Department, MonotaRO Co., Ltd. "We chose to integrate Adyen's payments platform as we knew it would support our expansion plans outside of Japan, allowing us to meet our customer demands for more payment method options, as well as a fast, seamless and secure checkout process."
"With ecommerce booming, even small business buyers today expect to be able to pay in their local currency and preferred payment method when making an online purchase. We're excited to bring these options to MonotaRO customers in Southeast Asia," said Warren Hayashi, President of Asia-Pacific, Adyen. "As the complex payments landscape in Southeast Asia continues to evolve, we look forward to working closely with MonotaRO to simplify payments for them and their shoppers, so they can focus on growing their business."
About Adyen
Adyen (AMS: ADYEN) is the payments platform of choice for many of the world's leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Spotify, L'Oréal, Cathay Pacific, Grab, Klook and Singapore Airlines. The cooperation with MonotaRO as described in this merchant update underlines Adyen's continuous growth with current and new merchants over the years.
About MonotaRO Co., Ltd.
MonotaRO provides approximately 18 million items required on manufacturing/business sites or factories from industrial materials such as cutting tools and abrasives to automotive-related products, construction supplies, and office supplies.
There are approximately 6.15 million registered users as of June 30, 2021. MonotaRo listed on Tokyo Stock Exchange Mothers in December 2006 and listed on 1st section of the Tokyo Stock Exchange in December, 2009. Consolidated sales of the fiscal year ended December 31,2020 is 157.3 billion yen. The forecast for consolidated sales of the fiscal year ending December 31,2021 is 194.2 billion yen.
