According to the Nikkei business daily on July 18, Japan’s MS&AD insurance group holding co., ltd. will introduce a mechanism to pay insurance premiums through alibaba group’s smartphone settlement service in July. Read the QR code presented by the agent store when using it, enter the dedicated website and complete the settlement. Against the backdrop of a growing number of foreigners living in Japan, MS&AD will support paying in ways that Chinese demand more.
The company’s Sumitomo Mitsui Marine Fire Insurance Ai and Yizhisheng and Property Insurance will introduce “Alipay international settlement” in the payment of auto insurance and fire insurance.
It is the first time a major Japanese property insurer has introduced Alipay, according to the two companies. It will also support PayPal, LINE’s LINE Pay and Rakuten’s Rakuten Pay, which operate worldwide.
Its mechanism is to use special website, can complete insurance premium payment on the spot. Previously, insurance premiums were mainly paid by bank account transfers and credit cards.