Payments via Smartphones Gradually Becoming Common in Japan
Newsfrom JapanEconomy Politics
Tokyo, Aug. 31 (Jiji Press)--The number of restaurants, convenience stores and other shops accepting payments with smartphones using quick response, or QR, codes is rising in Japan although the pace of growth is slow.
Major information technology firms are working to promote the cashless payment system. Banks are also joining the new drive in the country, where cash still remains the main payment option.
The QR code payments require smartphone apps, such as Rakuten Pay of cybermall operator Rakuten Inc. <4755> and Line Pay of free messaging app provider Line Corp. <3938>.
Shops have to shoulder around 3 pct of settlement commission fees to introduce QR code payments.
Line recently launched a campaign to make such fee payments unnecessary for three years. Major mobile phone carrier Softbank Corp. and Internet portal Yahoo Japan Corp. <4689> are set to start similar campaigns this autumn.
[Copyright The Jiji Press, Ltd.]