Stripe now supports Furikomi and Konbini payments

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Stripe, a financial services and software-as-a-service (SaaS) company, now supports two forms of payment in Japan via an integration, the company announcement Friday (April 15).

Furikomi, a popular bank transfer method, and Konbini, a global payment option for convenience stores, are available through Stripe.

“Stripe provides technology solutions that help Japanese businesses digitally transform and save working days every year,” said Daisuke Aranamicountry manager for Stripe Japan, said in a statement.

By enabling bank transfers in Japan, Stripe has become the only fully unified SaaS solution that consolidates payment, billing, invoicing and revenue management tools into one comprehensive platform, he added.

Furikomi allows businesses to securely transfer money from their bank accounts. Stripe said these transfers are essential for the $10 billion SaaS industry to handle recurring payments.

However, bank transfers can create difficulties for businesses, which must manually reconcile payments from various bank accounts with separate invoices. It is exacerbated for SaaS platforms that charge recurring fees.

With Stripe, Furikomi can automate and integrate payments. As a result, businesses no longer need to reconcile unpaid invoices with accounting entries at the end of each month.

Additionally, Stripe’s Furikomi solution promises to make refunds easier. Most wire transfer products do not support refunds in the same way as card payments.

Stripe also supports Konbini payments at over 34,000 outlets in Japan. Konbini payments allow consumers who do not have access to cards, or who prefer cash, to pay for purchases online at convenience stores.

Konbini payments account for 18% of the nearly $167 billion in annual business-to-consumer (B2C) online payments in Japan.

In March, Stripe returned to the cryptocurrency fold four years after stepping away from the space. An enthusiasm for Web3 is part of the decision.

Read more: Stripe Returns to Crypto Payment Processing

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