First announced in Japan on October 20, 2020.
TOKYO and Redwood City, Calif — December 17, 2020 — Zuora, Inc., (NYSE:ZUO) the leading cloud-based subscription management platform provider, announced today a collaboration with SB Payment Service Corp., a subsidiary of SoftBank Corp., to enable businesses in Japan to securely and seamlessly process credit card payments on a recurring subscription basis. The integration is powering subscription payments for GeForce NOW Powered by SoftBank, a Japanese version of NVIDIA’s GeForce NOW. GeForce NOW is a leading cloud gaming platform with over 5 million registered users worldwide.
The Subscription Economy® is expanding globally and in Q2 2020 alone, the subscription revenue growth rate in Asia Pacific grew at 44%, a record high for the region over the past three years according to the latest Subscription Economy Index™. Recognizing the incredible opportunity for subscription-based businesses in Japan, SB Payment Service set out to provide its customers with a reliable, secure and agile way to enable subscription payments on Zuora’s platform.
“Our integration and use of Zuora positions us to better serve Japanese customers adopting new recurring business models and fuel a positive payment experience for end users,” said Masahiko Yamaura, General Manager Sales Division at SB Payment Service. “The speed at which we can now process recurring payments serves as a key differentiator and competitive advantage for our customer-base.”
With Zuora, GeForce NOW Powered by SoftBank is able to accept credit card payments for subscriptions.
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-revenue process seamlessly across billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet, and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.
© 2020 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Zuora, Inc. or any aspect of this press release.
SOURCE: Zuora Financial
This press release contains forward-looking statements that involve a number of risks, uncertainties and assumptions, including but not limited to statements regarding the expected growth and trends in subscriptions, consumer buying trend expectations, the expected growth and trends in the market for subscription businesses, and the expected benefits of any such trends. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, and actual results could differ materially from those stated or implied in forward-looking statements. This press release also includes market data and certain other statistical information and estimates from industry analysts and/or market research firms. Zuora believes these third party reports to be reputable, but has not independently verified the underlying data sources, methodologies or assumptions. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this information.