QR codes for cashless payments in Japan are expected to be introduced this summer as retailers grapple with a variety of competition rules, the Australian reported. Standardized specifications will support the spread of cashless payments.
Japan’s QR code payment system includes PayPay, a joint venture between Softbank and yahoo Japan; LinePay, run by communications app operator Line Corp; and j-coin Pay being developed by Mizuho bank and regional Banks, among others.
When a store contracts with multiple payment providers, it is often necessary to adjust its register devices to suit each type. However, China payment companies are not expected to sign up to Japanese specifications, and if stores want to allow visitors to pay using Chinese qr codes, their scanners still need the ability to have multiple codes.