Sumitomo Mitsui Card Co. said Thursday it has forged a tieup with China UnionPay Co. that will allow Chinese travelers to use UnionPay credit and cash cards in Japan, beginning in the current fiscal year.
Sumitomo Mitsui Card is the first Japanese company to provide settlement services for China UnionPay cardholders.
The service will initially involve large retail stores, hotels and leisure facilities in major cities used by Chinese travelers, before being expanded nationwide.
Chinese travelers have thus far enjoyed limited purchasing power in Japan because the Chinese government imposes restrictions on cash brought out of the country.