ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Battle for Japan's cashless spenders heats up as mobile payments grow

Banker SMFG to introduce all-in-one payment terminal

Cafe de K in Sapporo on the northern island of Hokkaido no longer accepts cash. (Photo by Manami Yamada)

TOKYO -- Japanese banks hope that integrating mobile payments like Alipay and Apple Pay with other cashless methods will help them regain ground in the market and promote such options in a country where cash is still king.

Sumitomo Mitsui Financial Group is developing a single terminal to process a variety of cashless payments, such as credit cards, electronic money and smartphones. It is consulting with Tokyo-based GMO Payment Gateway, a payment processor for online sales, about the system design and project costs. The group aims to roll out the service around 2019.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more