CE-commerce platform Cafe24 said Friday that it has partnered with major Japanese payment platform SoftBank Payment Service.


“Cafe24 will continue to expand partnerships with key global companies that possess technical expertise in order to provide optimized local services in various countries,” said Cafe24 CEO Lee Jae-suk.

Cafe24 signed a memorandum of understanding with SoftBank Payment Service to share business know-how and boost the global e-commerce market, the company said. 

Under the agreement, Japanese customers will be able to make payments via their phones or credit cards by using SoftBank Payment Service at online shopping malls registered with Cafe24. 

SoftBank Payment Service is a payment service company under SoftBank Group. The company reported an annual gross merchandise volume of 2 trillion yen ($18 billion) in 2016. 

Over 80,000 online sellers on the Japanese open market use SoftBank Payment Service.

Japan’s e-commerce market is growing rapidly. As of 2016, it had reached a market size of 15 trillion yen, about twice the size of the Korean e-commerce market. 

By Kim Da-sol (ddd@heraldcorp.com)