Mitsubishi UFJ Bank to enter cashless payment Dec. 4: 7:58

Megabanks will enter the field of cashless payments, where competition is intensifying. The Bank of Tokyo-Mitsubishi UFJ has established a policy to start a payment service using smartphones at restaurants and hotels in cooperation with Recruit, which operates information sites such as gourmet and travel.

According to officials, Mitsubishi UFJ has agreed to jointly establish a new company with Recruit for cashless payment services.

The new company will develop a service that allows users to make payments using QR codes if users charge money from their bank accounts to smartphone apps.

We would like to encourage the introduction of services to restaurants, hotels and inns that are registered on information sites such as “Hot Pepper” and “Jalan”, which have many users.

The use of cashless payments is further expanding due to the point return system implemented by the government, but there are many companies entering the market and competition is intensifying.

Mitsubishi UFJ, which will be entering this time, will be a latecomer, but its aim is to make a comeback by using a network of high-profile information sites.

On the other hand, strict management is required for the handling of various data obtained through services such as payment history, and it seems likely that the new company will be able to build an information management system trusted by users.