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

Japanese banks to link e-money with popular Suica transit card

JR East's large user base gives digital latecomers a potential edge

JR East's Suica card, and its accompanying app, are a popular contactless payment method in Japan. (Photo courtesy of JR East)

TOKYO -- Japan's three megabanks look to link their digital currencies to East Japan Railway's popular Suica smart transit card, hoping to expand their customer bases by improving convenience.

Mizuho Financial Group unit Mizuho Bank last year rolled out its J-Coin Pay platform, which can be used for money transfers and cashless payments, and Mitsubishi UFJ Financial Group is reworking plans for its MUFG Coin digital currency. But the banks lag behind startups that jumped on the trend earlier, such as SoftBank Group unit PayPay.

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