Uniqlo will release mobile payment service ‘UNIQLO Pay’: Supports bank accounts of MBC

The operator of Uniqlo, the Japanese fashion giant Fast Retailing (Fast Retailing), will attach the ‘UNIQLO Pay’ payment function to its smartphone app, making it easier for consumers to make in-store payments.

Payment, incidentally, help Uniqlo improve the efficiency of sales. Previously, when Uniqlo consumers used electronic payments in offline stores, the payments were processed by third-party services.

Now, Fast Retailing will process these electronic payments itself through Uniqlo’s mobile app. Japan’s largest mobile payment application is still PayPay. PayPay has been invested by SoftBank Group and currently has 35 million registered users.

In contrast, the Uniqlo app has been downloaded approximately 30 million times so far, which means that with the addition of payment functions, Fast Retailing will become Japan’s largest retailer with mobile payment functions.

Fast Retailing and Sumitomo Mitsui Banking Corporation jointly developed this mobile payment service called Uniqlo Pay, which will be officially released on Tuesday.

Users can connect their bank card or credit card information with the application, and when the customer goes to the cashier to check out, a payment QR code will be generated to scan the code for payment.

This payment service is available in almost all Uniqlo stores in Japan. The current number of Uniqlo stores in Japan is about 800. In the future, Uniqlo Pay can also be used for online shopping, and the service cannot be used in non-Fast Retailing stores.

At present, the app only supports bank accounts of MBC, Mitsubishi UFJ Financial Group, and Resona Holdings.

(Via)