Market Share of Japan Mobile Payments Industry
The Japanese mobile payments market is semi-consolidated, demonstrating fierce competition between the service providers. Several communication firms are enabling connection with their current apps to accept payments via cell phones. Telecom companies are eager to enter the market with their products. Through Japan, the ecosystem is seeing new participants from other ecologies grow.
- November 2023 - Mastercard and NEC collaborated to advance in-store biometric payments strategic partnership between Mastercard and NEC Corporation. Through a signed Memorandum of understanding, the partnership will implement NEC’s face recognition and liveness verification technology and Mastercard’s payment enablement and optimized user experience to drive global scale.
- October 2023 - Resona HD to acquire a partial share of Resona Kessai Service, a subsidiary of Resona HD, strengthening the joint sales structure with Resona Group. In collaboration with Resona Group, the Company will provide its latest payment solutions to Resona Group’s clients, and Resona Group will provide its financial solutions to the company group’s clients. The Company’s shares in Resona Kessai Service will range from 15% to 20%. The terms and conditions of the share acquisition, including the number of shares to be transferred and the acquisition price, will be agreed upon through separate discussions between Resona HD and the Company.
Japan Mobile Payments Market Leaders
PayPay
Visa Inc.
MasterCard Inc.
Mitsubishi UFJ Financial Group
Resona Holdings
*Disclaimer: Major Players sorted in no particular order
