Twenty-six regional banks will launch a system to collect payments on behalf of businesses through convenience stores, banking sources have said.
Convenience stores in Japan already handle public utility bills and offer payment services through individual contracts with banks, but the payments to be handled by participating stores will expand to include school tuition fees and mail-order goods.
The participating banks include the Bank of Yokohama, Japan's largest regional bank, Hachijuni Bank and Seventy-Seven Bank, the sources said Wednesday.
The banks will sign contracts with 14 convenience store chains, including Seven-Eleven Japan Co. and Lawson Inc., and link about 35,000 outlets nationwide to the system.
The participating banks will set up a joint company to handle the payments and forward them to the businesses concerned.
The regional banks' plan will be the first nationwide payment-collection system conducted by convenience stores. Sixteen of the 26 banks plan to begin the new service in October. The remaining will join as soon as possible, they say.
Fifteen more regional banks are considering joining the new service, raising the number of participating banks to around 40, the sources said.