Leading Japan with 60% market share, Amaten to become the next Amazon in the gift card industry, estimated to reach $2.7 Trillion in value by 2027
TOKYO, JAPAN – Media
OutReach – 11 August
2020 – Japan’s largest digital gift card marketplace
“Amaten” has announced plans to globalize its brand across the world, after
record sale that reached $100 million USD. The company has reinvented the
digital gift card solutions to create “win-win” situation for both consumers
and shops, shooting to a resounding growth in recent years. Today, Amaten has
set up its first overseas operations in Dubai, UAE.
Since 2019, the gift card market generated profits worth
$617 billion, this number is projected to reach a revised size of $2.7 Trillion
by 2027 as demand for going cashless is accelerating during the Covid-19 era.
It is a market that is rarely talked about yet, its current technology is
completely obsolete into today’s digital world.
Retailers increasingly refer to adoption of digital gift
cards, yet they struggle with technical errors that make their cards easily
compromised to be used multiple times, causing financial losses, in addition to
more common issues, where gift cards have limited purchasing options and tight
expiry dates.
This is where Amaten comes to the rescue, the massive
success the fintech company has brought in Japan comes from the revolutionary
makeovers that it created in digital gift card industry.
At first glance, Amaten is engineering their digital gift
cards with blockchain integration. It is taking the gift card and putting on a
smart contract making it truly digital thus, illuminating all the structural
short coming of the current technology. This provides a great advantage for
merchants and consumers from security standpoint, as they’ll be able to trace
gift cards ensuring that it’s not compromised, as Blockchain will ensure
highest level of data encryption.
This advanced integration makes Amaten the most secure gift
card issuer on the internet, thus tackling the “Gift Card Error” issue that is
commonly seen among other suppliers. A long-awaited paradigm
shift in this fintech industry.
Apart from accepting gift card purchases using cash, Amaten
was among the first marketplaces worldwide to accept Bitcoin. Conversely, users
can redeem unwanted gift cards to cash, hence tackling the issue of unused
cards that counts $1 Billion in losses globally every year.
The Amaten platform currently list the top 25 global
merchants gift cards, the likes of Amazon, Apple, Rakuten and Google within the
Japanese market.
Soon, Amaten will allow any merchant to issue gift cards, thus
encouraging buyers to purchase them for potential shopping in the foreseeable
future, thus keeping businesses under financial support during slow economic
activity.
The inspiration for Amaten’s innovation comes from one of
Japan’s IT industry leaders, Mr. Tom Kanazawa, who played a major role to
backing and funding IT ventures in Japan since 1998, he is currently the
Chairman of Amaten.
Commenting on the opportunities that Amaten has for
investors, Mr. Tom Kanazawa said “Amaten has the potential of becoming a
monopolistic enterprise and change the gift card for good, because we are
solving the last mile problem between cash and the legacy gift card, Until recently, it was deemed impossible for
the industry to reinvent itself, but as for Amaten, using our blockchain
solution built on Aelf, we tackled those structural issues and will ensure a
seamless experience for our users and merchants, finally building a true
fintech digital product and expanding the industry and its market ‘size even
further. This is a true use case for blockchain technology that can be applied
right away!”
Mr. Kanazawa added, “We also have seen quite some interest
for white label solutions that can be provided to hotel chains for example or
enterprise incentive programs to create a truly digital and seamless ecosystem.
We invite everyone interested in AMA to join our
telegram channel, or to visit our website amaten.io, me and the team
will be happy to cater to your questions and we’ll be here to help!”.
