Japan has a network of over 65,000 convenience stores where many people use cash to pay utility bills or even for e-commerce orders, a practice referred to as konbini payments. In August, a key service provider for these stores entered a deal to start enabling people to send stablecoin remittances from these convenience stores. Now further details have been shared about an existing deal with a stablecoin issuer, with the scope of collaboration appearing to include domestic payments as well as cross border.
Densan Systems, the payment service provider for the 65,000 convenience stores, is an existing investor in JPYC, the Japanese stablecoin issuer. Together they aim to explore the use of stablecoins for both B2C and B2B payments, including for e-commerce and tourism use cases. Konbini payments rank as the third most popular format for e-commerce payments among Japanese women.
Beyond cross border remittances and e-commerce, there are four other areas they plan to work on. These include small, frequent payments and streamlining billing and settlement.
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AloJapan.com