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Banks rush to turn Japan cashless ahead of fintech


TOKYO: Japanese banks, long content to foster the nation’s love for cash, are now diving into digital payments thanks to a regulatory change that threatens to usher in new rivals.

In recent months, lenders around the country have announced a flurry of initiatives designed to grab a slice of the US$50bil market for electronic settlements. Projects are under way to develop platforms using everything from QR codes to blockchain technology and digital currencies.

Banking , QR , blockchain , digital currencies , banks

   

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