SMBC launching NFC payments service in Japan

Will introduce it this October.

Sumitomo Mitsui Banking Corporation, Japan’s second largest bank in terms of assets, intends to launch an NFC (near field communication) payments service.

Industry sources said the service will be available in the NTT Docomo, Softbank and KDDI mobile networks. NTT Docomo, Softbank and KDDI are already selling NFC-enabled mobile phones in Japan and are set to launch a Visa Paywave service on their mobile phones.

Customers with Visa cards will be able to apply for Visa Paywave through the Visa website.