Japanese banks unite on QR code payment service

Megabanks and cooperatives join hands to regain ground lost to nonbank rivals

20181122 QR code

Japanese banks are planning a unified smartphone system to compete against Line Pay and other newcomers to the payments field.

JUN WATANABE, Nikkei staff writer

TOKYO -- Banks and regional financial institutions across Japan expect to come out with a unified smartphone payment service, perhaps in April 2020, Nikkei has learned.

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