Japanese Partners Push ASEAN FinTech Options

Announcements, FinTech | March 28, 2017 By:

Japan’s Mizuho Financial Group and trading company Marubeni will team to explore FinTech e-payment opportunities in Southeast Asia.

Smartphone payment options are driving the new partnership. While many in the region are unbanked, smartphone payment apps have proliferated.  The partners will form a committee to select specific countries to handle new services and establish joint units to handle those services. The timeframe for both are within the next year.

“As various new FinTech based financial services are recently being offered, we will explore opportunities to provide community-based financial businesses in the ASEAN region where the settlement and e-commerce market is expected to greatly expand in the future,” said a release announcing the partnership.

Mizuho and Marubeni plan to team with local companies to gain expertise that can be leveraged elsewhere in Asia, including Japan.