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TF Payment Service Will Make “Thincacloud” Compatible with QR Code Payment, Launching Alipay and WeChat Pay Services in Spring
Strengthening Cashless Payment Functions to Achieve the Cashless Vision

January 25, 2019

TF PAYMENT SERVICE CO., LTD.

TF PAYMENT SERVICE CO., LTD. (headquartered in Shinjuku, Tokyo; President and CEO: Toshiro Matsuda; hereinafter “TFPS”), member of the corporate group led by TOPPAN FORMS CO., LTD., is pleased to announce that “Thincacloud,” a cloud-based payment platform, will be compatible with QR code payment.

First, TFPS will make Thincacloud compatible with Alipay, a top global payment and lifestyle platform provided by the Ant Financial Services Group, a company affiliated with Alibaba Group Holding Limited of China, and WeChat Pay, a payment service offered within WeChat, a communications application also used by many people in China, in the spring of 2019. In addition, TFPS will make Thincacloud compatible with QR code payment services provided in Japan, including Rakuten Pay (payment using an application), d Pay, LINE Pay and PayPay, from the summer of 2019.

Thincacloud is compatible with both the consumer presentation-based payment (code-based payment) service, in which an in-store terminal or POS cash register processes a payment by reading a QR code presented by the consumer, and the store presentation-based payment (reading-based payment) service, in which a consumer makes a payment by reading the QR code presented by the store or displayed on a terminal using an application installed on a smartphone.
This compatibility enables both QR code payment and e-money payment on a single payment terminal, not only a POS cash register that can be custom-installed with a QR code reader, such as a scanner, but also a vending machine, a game console at an amusement facility and the like.

Background

The number of foreign tourists to Japan is increasing annually. According to statistics on souvenirs purchased by foreign tourists in Japan, in the FY2017 Annual Report on Consumption Trends among Foreigners Visiting Japan published by the Japan Tourism Agency, cash was the method of payment most frequently used by more than 90% of them. However, there is an urgent need to enhance convenience through the spread of cashless payment to attract more tourists from overseas and stimulate their consumption behavior in the future.
Furthermore, tourists from China accounted for 1,694,700 million yen, or 38.4% of 4,416,200 million yen, the total amount that foreign tourists spent in Japan. Tourists from China led their counterparts from 19 other countries and regions on spending in Japan. Accordingly, demand is rising for payment services for people who travel to Japan from China.
In the Cashless Vision formulated by the Ministry of Economy, Trade and Industry, a cashless payment ratio of 40% is set as the target for achievement by 2025. In the Report on the Survey on the QR Code Payment Market in Japan published by JMA Research Institute Inc., the Japanese market for QR code payment is estimated to reach 8 trillion yen in 2023. As these figures suggest, the market for cashless payment is anticipated to expand in the future.

Future Development

TFPS has provided thin client payment services compatible with multiple e-money formats. These services have contributed to substantial reductions in the cost of introducing terminals, compared with traditional (rich client) services.
TFPS will develop Thincacloud as an integrated cashless payment platform by achieving compatibility with a variety of QR code payment services offered in Japan in the future, in addition to making it compatible with Alipay and WeChat Pay QR code payment services for tourists from China. TFPS will contribute to achieving the Cashless Vision in Japan by offering Thincacloud as a convenient service for users and member stores that can be used at lower infrastructure costs.

  • * “Thincacloud” and “ThincaTerminal” are registered trademarks of TF PAYMENT SERVICE CO., LTD.
  • * “QR Code” is a registered trademark of DENSO WAVE INCORPORATED.
  • * “d Pay” and the “d Pay” logo are registered trademarks of NTT DOCOMO, INC.
  • * Other company names, product names and the like are registered trademarks or trademarks of their respective companies.

Reference information

■ TF PAYMENT SERVICE CO., LTD.
  • Name:
    TF PAYMENT SERVICE CO., LTD.
  • Head office:
    4F Nishi-Shinjuku KS Building, 3-6-10 Nishi-Shinjuku, Shinjuku-ku, Tokyo
  • Established:
    December 2011
  • Representative:
    Toshiro Matsuda, President and CEO
  • Description of business:
    Provides cloud-based services that continue to evolve, in addition to e-money services in Japan, such as the e-money payment business in which the Thincacloud cloud-based payment platform acts as a core, the regional economy vitalization support business using regional points/money, the e-money solutions business and the NFC solutions business.
  • URL:
    http://www.thincacloud.com/
Public Relations Department
Corporate Planning Division
TOPPAN FORMS CO., LTD.
1-7-3 Higashi Shimbashi, Minato-ku, Tokyo 105-8311, JAPAN
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