Japan airline ANA to tap into digital payments

Monday 16 April 2018 14:14 CET | News

Japan-based airline ANA has announced plans to launch a digital payments business, as part of a broader digital strategy.

ANA hopes to build its digital strategy on data collected from the 31 million users of its airline miles to provide a range of services including real estate, insurance and health to consumers across Japan. 

ANA aims to generate around 20% of its total revenue, which is projected to reach JPY 2.45 trillion by the fiscal year 2022, from the non-airline business. It has not provided details of how it will launch its mobile payments system. 

Japan was early in introducing mobile phones with payment functions, originally using Sony’s patented Felica technology. Despite this, companies were slow to capitalise on the technology, cash still accounting for 70% of all transactions by value. Japan’s digital payment market — including credit cards, smartphones and other platforms — is expected to grow from JPY 73.2 trillion (USD 682 billion) in 2017 to JPY 114 trillion in 2023, according to Nomura Research Institute.

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Keywords: Japan, ANA, digital payments, Sony, credit cards
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce