Coiney

Coiney Inc. was established in March 2012 by Naoko Samata to address a significant gap in the Japanese market, where a large percentage of merchants were still cash-only. Samata, who previously worked in marketing at PayPal Japan, identified the need for a simple and accessible credit card payment solution for small and medium-sized enterprises. Despite not having a technical background, she drove the vision for the company, bringing on Hajime Kuge as a product strategist to handle the hardware and design aspects.

The company provides a mobile point-of-sale (mPOS) service that allows businesses to accept credit card payments using a smartphone or tablet. The system operates through a dedicated card reader that connects to a mobile device's earphone jack, paired with a specialized app. This setup enables merchants to process transactions anywhere with an internet connection, targeting small and medium-sized businesses and sole proprietors who were previously deterred by the costs and complexity of traditional payment systems. Coiney's business model is based on the transaction fees from the payments it processes.

A significant milestone in the company's history was its merger with the e-commerce platform Stores.jp in February 2018. This strategic integration led to the formation of hey, Inc. (later renamed STORES, Inc.), creating a comprehensive platform that supports businesses with both in-person and online sales. This merger allowed for synergistic growth, offering integrated client data management from both physical and online stores. Following the merger, Naoko Samata took on the role of VP of People Experience within the new entity, focusing on personnel and organizational matters.

Keywords: mobile payments, point of sale, mPOS, fintech, cashless payment, SME financial services, credit card processing, payment gateway, Japanese market, Naoko Samata, hey Inc, STORES Inc, STORES Terminal, e-commerce integration, merchant services, payment solutions, digital payments, retail tech, mobile commerce