This partnership marks the introduction of biometric payment cards in Japan, with LIFE CARD aiming for commercial deployment in the first half of 2025.
Japan has long been known for its advanced technological infrastructure, and its payment ecosystem is no exception. The country has seen a strong shift toward cashless payments, with the government actively promoting cashless initiatives. The widespread use of credit cards, along with mobile payment platforms, is part of a broader trend aimed at reducing cash reliance and improving transaction efficiency. This trend is particularly evident in urban areas, where digital payments are becoming the preferred method for both consumers and businesses.
Credit cards have now become the preferred alternative to cash in the country, with 314 million cards issued. They account for over 80% of cashless transactions, far outpacing other digital payment methods in the country.
As a credit card issuer for Visa and Mastercard, LIFE CARD offers a range of card programs, including premium, corporate, and student cards. The introduction of biometric payment cards is expected to set LIFE CARD apart in a competitive market, reinforcing its commitment to innovation and security.
The new biometric payment cards will integrate advanced biometric technology, providing a more secure and frictionless payment experience. This innovation is expected to strengthen LIFE CARD’s market position, attract new customers, and increase transaction volume, ultimately improving customer lifetime value.
IDEX Biometrics and LIFE CARD are focused on providing consumers with simple and secure payment solutions. With this partnership, both companies aim to make card payments easier, more secure, and more accessible for Japanese consumers.
This collaboration marks a significant step in the evolution of payment technology in Japan, offering consumers a glimpse into the future of secure, biometric-enabled payment systems.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now