NewsroomBusiness & Management
Recruit Payment Co., Ltd. Confirms Registration as a Financial Service Intermediary Business (Deposit Intermediary Business Operations). The Company Plans to Develop Services in Cooperation with Financial Institutions to Support Small and Medium-Sized Enterprises.
Sep 13, 2022 | Recruit
Recruit Payment Co., Ltd., a subsidiary of Recruit Holdings, has announced the completion of all registration procedures to become a Financial Service Intermediary Business as of September 13, 2022. With the registration complete, the company plans to develop services in cooperation with financial institutions to enable SMEs and sole proprietors using Recruit Group’s services such as AirREGI and AirPAY to access financial services easily and efficiently.
1. Planning new services to connect small and medium-sized enterprises and sole proprietors with financial institutions
Many SMEs and sole proprietors using our Group's services — such as AirREGI and AirPAY — require financial support for growth-oriented investments such as store expansions and human resources, alongside the day-to-day capital necessary to run a business. However, in some cases, these businesses have been unable to access the funding they need quickly and easily because they have yet to build the required relationships with financial institutions. Conversely, financial institutions also face difficulties collecting the data they need to screen loans for SMEs and sole proprietors, making it challenging to easily assess their business potential.
In response to these challenges, Recruit Payment has taken the decision to register as a Financial Service Intermediary Business. With registration complete, the next step for the company is to create services that will support SMEs and sole proprietors to access the services offered by financial institutions easily and efficiently. To create these new services, the company will collaborate with financial institutions, utilize its network of SMEs and sole proprietors registered with our AirREGI and AirPAY services and diverse databank, and use its optimal UI/UX development capabilities. By becoming a certified intermediary business, the company believes it can contribute to strengthening the connection between SMEs and sole proprietors and financial institutions and support an environment for sustainable business operations.
2. What is a Financial Service Intermediary Business?
In June 2020, the Financial Services Agency (FSA) renamed the "Act on Sales, etc. of Financial Instruments" to the "Act on Provision of Financial Services," an amendment that led to the creation of the "Financial Service Intermediary Business" which went into effect in November 2021. Previously, businesses engaged in the intermediation of financial services were required to register with and be regulated by each of the banking, securities, and insurance fields. Through the amended system, Financial Service Intermediary Businesses can engage in banking, securities, and insurance services with a single license. Recruit Group has registered as a Deposit Intermediary Business, which involves the intermediation of loans and deposit services of banks and other financial institutions.
3. Company overview of Recruit Payment
Company Name: Recruit Payment Co., Ltd.
Address: Gran Tokyo South Tower 34F, 1-9-2 Marunouchi, Chiyoda-ku, Tokyo
Business content: Credit card business
Founded: December 17, 2014
Representative: Kazuyoshi Shiobara
Click here to read the original press release.