Mizuho, InComm launch J-Coin Pay in 18,000 retail locations in Japan

Tuesday 1 October 2019 10:09 CET | News

Mizuho Bank has teamed up with InComm, a payments technology company, to bring its bank digital currency platform J-Coin Pay to more than 18,000 retail locations in Japan.

Through the partnership, InComm’s network of more than 18,000 retail locations such as pharmacies, supermarkets, home appliance retailers, and discount stores, will be able to accept J-Coin Pay. As per a press release, the payment service is expected to be rolled out at these locations through 2019.

J-Coin Pay enables customers to make payments, send, receive transfers, and conduct other financial transactions using their mobile phones. Moreover, users can also use the app to move funds between J-Coin Pay accounts and other deposit accounts at their respective banks without zero charges.

Previously in June 2019, Mizuho added seven more financial institution partners to the digital currency platform, bringing the total number of member banks to 57. Although Mizuho touts J-Coin Pay as a digital currency platform, it is important to note here that the payment service is a QR-code payment system, resembling Alipay and WeChat Pay, Quartz reported.

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Keywords: Mizuho, InComm, J-Coin Pay, Japan, retail, digital currency platform, payments provider, QR code payment system
Countries: World

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