First in Japan! Launch of smartphone-operated cash-withdrawal service from ticket machines at Tokyu Line train stations*1 from May 8
GMO Payment Gateway, Inc.
April 24, 2019
The Bank of Yokohama, Ltd. (Yokohama Bank), JAPAN POST BANK Co., Ltd. (JP Bank) and TOKYU CORPORATION (Tokyu Corp.), and GMO Payment Gateway, Inc. (GMO-PG), have launched 'Cash-Out Service'*2 a bank account-linked cash withdrawal service using the ticket machines of Tokyo Line train stations (excluding Setagaya Line and Kodomo-no-Kuni Line). This service is available from May 8, 2019.
This first-ever service in Japan*3 allows users to withdraw money from their bank account from the ticket machine at train stations; a feat made possible by leveraging the 'real time bank account linked smartphone app service' co-developed by GMO-PG and Yokohama Bank.
Users of "Hama Pay" offered by Yokohama Bank and "Yucho Pay" offered by JP Bank, designate the amount to be withdrawn on their smartphone, which then generates a QR code. The user can receive the cash by scanning the QR code on the ticket machine*4. Users can chose from the 3 amounts of \10,000, \20,000 and \30,000 with a one-time withdrawal limit of \30,000; and the service hours extend from 0530 to 2300 on all days. The no-fee campaign to commemorate the service launch will continue up to June 30, after which normal fee apply.
GMO-PG will work on expanding this service to rail operators other than Tokyu Line by leveraging on this service's framework. By enabling cash withdrawal to be made from ticket machines at train stations - a pivotal place in a Japanese' daily lives - this service will contribute to resolving issues and inconveniences in the community.
▲Image of the Cash Out app
GMO-PG is Japan's leading provider of comprehensive payment-related services and financial services to 112,341 merchants (as of end-December, 2018) consisting of EC operators as well as non-EC operators such as NHK and public institutions such as National Tax Agency and Tokyo Metropolitan Government. Total transaction value exceeds \3 trillion, mainly from the core payment processing service as well as value-added services that contribute to the merchant's growth.
GMO-PG is expanding businesses to include offline payment processing that would encompass IoT, and Fintech services such as lending, Payment after Delivery and solutions to financial institutions; all of which are expected to contribute to drive Japan's cashless. We are also pursuing global expansion through capital alliances with overseas firms and through rolling out our PSP and financial services in overseas markets.
GMO-PG aims to be the highly-secure, comprehensive and convenient payment processing infrastructure in Japan by continuing to lead the innovations.
(In the event of any discrepancy between the original and the English version, the Japanese version shall prevail.)