“先拿牌照、再拓市场”，支付机构出海“卷”起来了

Core Viewpoint - The payment industry is experiencing a competitive race for global licenses and local compliance capabilities as domestic markets face saturation, prompting companies to expand overseas [1][5]. Group 1: Company Developments - Yika announced that its wholly-owned subsidiary YeahPay Japan received approval from the Japanese Ministry of Economy, Trade and Industry, allowing it to conduct online and offline QR code payment services in Japan [3]. - Since exploring overseas markets in 2021, Yika has obtained various payment licenses, including those from Hong Kong, Singapore, and the United States, marking significant progress in its global payment strategy [4]. - Yika's overseas transaction volume is projected to exceed 1.1 billion RMB in 2024, reflecting a nearly fivefold year-on-year growth [4]. Group 2: Industry Trends - The domestic third-party payment market is becoming increasingly saturated, leading many companies to seek growth opportunities abroad [5]. - Competitors like PingPong and LianLian have also accelerated their overseas expansion, with PingPong acquiring over 60 global payment licenses and LianLian establishing a network of 65 licenses across multiple regions [5][6]. - The trend of "first obtaining licenses, then expanding into markets" is widely recognized among payment institutions to mitigate regulatory risks [8]. Group 3: Market Challenges - Despite the growing demand for payment services driven by cross-border e-commerce, companies face significant challenges, particularly in compliance and local market adaptation [9]. - The competitive landscape is intensifying, with many players entering the market, leading to product and service homogenization [9][10]. - Companies must enhance their service quality, innovation capabilities, and local partnerships to succeed in the increasingly competitive overseas markets [10].