Business

Two of Japan's biggest convenience store chains launch their own mobile payment services

JIJI

Seven-Eleven Japan Co. and FamilyMart Co. have started their own smartphone payment services.

Both major convenience store chains launched their services on Monday. They are expected to further intensify competition among similar services that already involve tech and financial companies.

Seven-Eleven Japan President Fumihiko Nagamatsu said the chain’s 7pay service can take advantage of the convenience store chain’s huge customer base of 22 million daily customers.

FamilyMart President Takashi Sawada meanwhile expressed high hopes that the chain’s FamiPay cashless payment system will reduce its employees’ workload.

Both services allow users to make payments by presenting at cashier counters barcodes displayed on their smartphones.

Seven-Eleven Japan, a unit of Seven & I Holdings Co., and FamilyMart, a FamilyMart Uny Holdings Co. unit, are staging promotion campaigns for the new services, including product voucher rewards.

Meanwhile, Lawson Inc. is cautious about launching a barcode payment service on its own. It has introduced 11 such services with developers, including Japanese, Chinese and South Korean information technology firms.

The cashless payment services are aimed at collecting data for product development and other purposes, as well as increasing the convenience of customers and the efficiency of store management.