TOKYO -- Japan's Credit Saison will invest several hundred million yen, roughly equivalent to several million dollars, in Coin, a U.S. venture touting a way to roll up to eight conventional credit cards into a single digital card.
This will mark the credit card issuer's first direct investment in North America.
Coin is expected to begin shipping its device, which looks like a credit card and can also manage loyalty cards and the like, this coming spring and is looking to bring it to Japan one to two years later.
Credit Saison sees unmet demand in Japan for ways to manage multiple credit cards -- many Japanese hold more than one. It will provide Coin with capital for development as well as support for its expansion into Japan and later to the rest of Asia.