Major Japanese banks may connect their automated teller machine systems with about 30 financial institutions in South Korea and Thailand from fiscal 2015, industry sources said Wednesday.
The banks and NTT Data Corp., which manages ATM data for the banks, may also expand the project to other Asian economies.
The move would be aimed at extending improved financial services to visitors from Asia, as well as Japanese travelers in other countries, especially in the run-up to the Tokyo Olympics in 2020.
Integration of the ATM systems would allow foreign visitors to withdraw yen using cash cards issued by foreign banks, which would be cheaper than cash withdrawals using credit cards.
Similarly, Japanese nationals traveling in other Asian economies would be able to withdraw the local currency using cash cards issued in Japan.
NTT Data Corp. plans to join a network of financial institutions in Asia and Oceania and sign the envisaged ATM integration deal with South Korean and Thai operators in fiscal 2014, which will start April 1.