TOKYO -- The credit card arm of Japan's Sumitomo Mitsui Financial Group will cut processing fees for small and midsize merchants by around 30% within the year, putting its rate among the lowest in the industry here.
Finance
Sumitomo Mitsui credit card unit to cut fees 30% for smaller merchants
Japanese card issuer eyes mounting competition from QR code payments
Sumitomo Mitsui Card's merchant fees will be well below the credit card industry's standard of around 3%. (Photo by Haruki Kitagawa)
Read Next
Latest on Finance
