MUFG Bank will set up a joint company with human resources services provider Recruit Holdings Co. to launch a smartphone-based cashless payment service, it was learned Wednesday.

The core banking arm of Mitsubishi UFJ Financial Group Inc. will seek to utilize Recruit’s client base of eateries, hotels and beauty salons to amass participating stores and users for the service, in a market currently dominated by technology companies.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.