Taiwan's EasyCard signs deal to expand payment service to Japan

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(CNA photo)

EasyCard Corp. said Sunday that it recently signed a letter of intent (LOI) with Bank of the Ryukyus in Japan to launch EasyCard payment services there by July.

Under the LOI, the stored value EasyCard will be valid for payments initially at some 4,000 stores in Tokyo, Okinawa and Hokkaido that have contracts with Bank of the Ryukyus, the company said in a press release.

The payment service will be launched around July, before the start of the Tokyo 2020 Olympic Games, with the use of name-registered EasyCards, co-branded EasyCard credit cards, and Debit EasyCards, the company said.

The exact date of the new service will be announced after the relevant authorities in each country approve the cooperation project and the E-payment technology is installed, EasyCard said.

EasyCard is the most widely used stored value card in Taiwan, while Bank of the Ryukyus is the largest bank in Okinawa.

In 2018, Okinawa recorded 889,700 visitor arrivals from Taiwan, which was the southern prefecture's largest source of foreign travelers, according to its data.