According to the Japan’s economic news reported on the May 16, Japan Line, NTT DoCoMo and Alibaba Group and Tencent Holdings and other China and Japan 5 IT Enterprises will participate in the promotion of mobile payment infrastructure as the QR Code payment Unified Code generalization. For a long time, there are more than 10 kinds of mobile payment services in Japan.
If it is possible to combine and read different standard QR codes at one time, it will improve the convenience of consumers and franchisees. It is estimated that this move will promote the convergence of mobile payment enterprises.
Moves by Japanese companies to collaborate on mobile payments have been made before, but this one will be the largest in history. Japan’s IT, banking and retail enterprises have successively entered the field of mobile payment services, but the QR Code payment standards of each service are different. In order to facilitate consumers, the franchise stores as recipients must introduce different payment APPS and settlement terminals respectively.
In the past few years, with the rapid development of smart phone mobile payment, technology service companies, Banks, retailers and others have entered the market.
According to statistics, there are currently more than 10 mobile payers in the Japanese market, and each has its own QR code standard, resulting in businesses participating in the payment program must install a variety of payment applications and QR code readers at the same time.
In response to this situation, three Japanese companies, including Line, online flea market Mercari and mobile operator NTT Docomo, will join hands with China’s Alibaba group and Tencent group to realize the standardization transformation of the code of Japanese mobile payment market.
Digital Garage, a Japanese system developer, has now developed a QR code that can be used in a variety of mobile payment services. Docomo will start using the QR code in this summer, and other partners will follow suit. The “CloudPay” store, a payment system developed using Digital Garage, displays QR codes on smartphones, tablet terminals, or paper. Consumers can automatically identify which mobile payment service to use for payment using their smartphone scan code.