JR Kyushu to Launch Full-Scale Financial Services

Fukuoka, Sept. 25 (Jiji Press)--Japan's Kyushu Railway Co., or JR Kyushu, said Friday that it will launch financial services in earnest in partnership with SBI Holdings Inc.

The railway operator will develop an app, tentatively called JQ Bank, to centrally manage services such as deposits and payments, planning to launch it within fiscal 2027.

JR Kyushu, which has run financial operations through its smart card and other platforms, will fully enter the sector after obtaining a bank agency license, aiming to improve customer convenience by combining railway and financial services.

Exclusive to online members, the planned app will provide banking and securities services from SBI Shinsei Bank and SBI Securities Co., both affiliated with SBI Holdings, a major Japanese online financial service firm, as well as insurance and crypto asset services.

JR Kyushu will also consider giving points to customers based on their deposit balances utilizing its existing loyalty point program.

[Copyright The Jiji Press, Ltd.]