Digital Finance & Tokenization▲
Seven Bank to Offer Banking Functions to Retailers, Targeting Fiscal 2027
Seven Bank has revealed plans to begin offering banking functions such as deposits and payments to retailers including convenience stores and supermarkets, targeting fiscal 2027. Potential recipients include Seven-Eleven Japan, FamilyMart, and Ito-Yokado. Through a Banking as a Service business that provides banking functions to external companies, recipients can deploy financial services without a banking license. Retailers will be able to combine payment data with purchasing information for more efficient sales promotions, while Seven Bank aims to expand deposits by leveraging its own ATMs for one-stop account opening procedures.