MUFG to start 'buy now, pay later' service with Kanmu acquisition

TOKYO -- MUFG Bank will be the first of Japan's three megabanks to enter the "buy now, pay later" (BNPL) business popular among younger consumers, as it hopes to capture that expanding market. MUFG has seen the need to expand into this segment as young people, overseas and at home, are increasingly dependent on such services.