VeriTrans Inc. (HQ: Tokyo; Representative Director and President: Hiroshi Shino; VeriTrans), a subsidiary of Digital Garage, Inc. (TSE first section: 4819; HQ: Tokyo; Representative Director, President Executive Officer and Group CEO: Kaoru Hayashi; DG) and provides payment services, will implement "Google Pay API" for the comprehensive payment solution VeriTrans4G, and will provide its services to online service providers in fields such as EC and mobile applications as a payment menu from mid-January.
■ Overview of Google Pay
Google Pay is a payment service that enables simple and safe payment for online services, such as websites and applications, using credit and debit cards registered to one's Google account.
Card information is encrypted at the time of payment and cannot be decrypted by the service provider, so the card information is never passed through the provider's website or application. Thus, the providers can fulfill the requirement for "non-retention of credit card information" that has been specified as a measure for credit card member stores under the "Implementation plan to reinforce security measures for credit card transactions" (hereafter, "Implementation Plan")*1 which is promoted by the Ministry of Economy, Trade and Industry and the Council for Credit Transaction Security Measures.
■ Overview of VeriTrans4G
VeriTrans4G is a comprehensive next-generation payment solution that supports the largest number of payment methods in the industry ranging from basic payments, such as via credit cards, convenience stores, and banks, to Apple Pay, e-money, telecom carrier payments, various wallet payments, and international payments including China UnionPay (CUP), Alipay, and PayPal.
In addition to the variety of payment methods, solutions are provided that fully comply with the requirements of "non-retention of credit card information" and "measures to prevent fraudulent use of electronic commerce (EC)" for EC business under the "Implementation Plan," such as advanced token payments that simultaneously offer high security and user-friendliness, linked payments, and highly accurate solutions for fraud detection that are provided to the payment system as standard.
Even if service and security requirements are added, a flexibly scalable system that minimizes the provider's burden is built-in, so providers who use VeriTrans4G can immediately install it simply by applying to use Google Pay. After installation, transaction data can be managed centrally on our control screen. Separately from credit card payments, transaction data for Google Pay only can be extracted and aggregated. In addition, money collected is settled or transferred in a lump sum with the settlement of other payments to minimize the operational load due to the addition of a new payment method.
■ Future Developments
VeriTrans will support the installation of online service providers as settlement proxies. The Hackathon is scheduled to be held on February 5, 2018 (Monday).
As a company, we will continue to enrich the payment methods and solutions required by EC business and consumers by quickly grasping industry trends as a leader in payment services.
【Overview of Google Pay Hackathon sponsored by VeriTrans】
Please access the following URL for inquiries about the event and to request to participate.
The program is subject to change.
Date and time：February 5, 2018 (Monday) 9:30 ~ 18:00 (Open from 9:00)
Venue ：Google Tokyo Office, Roppongi Hills Mori Tower 6-10-1 Roppongi, Minato-ku, Tokyo
1) Explanation and Road Map for Google Pay
2) Google Pay API Implementation Guide
3) VeriTrans4G Implementation Guide
4) Coding Workshop
Details and application: https://www.veritrans.co.jp/seminar/2018/20180205.html
*Google is the trademark or registered trademark of Google LLC.
*1 "Implementation Plan" details: http://www.j-credit.or.jp/security/pdf/plan_2017.pdf
【About VeriTrans】 https://www.veritrans.co.jp/
A payment provider that carries out online payment initiatives for the Digital Garage Group. Recently VeriTrans has also provided offline payment services, including the use of Mobile POS and mobile barcodes. As a leader in the payment services industry, which has now grown into a basic social infrastructure, VeriTrans will work with DG Group member econtext to offer advice to government institutions and the credit card industry, along with speedy service that meets the needs generated by trends in business and policy. Such efforts will support expansion of convenient solutions, along with a safe and secure environment, as required by EC businesses and consumers.