Japan: KDDI, Lawson partner for mobile payments
The partnership aims to increase the flow of money into its smartphone payment system taking advatange of 5G mobile networks.
Japanese telecom company KDDI Corporation and convenience store operator Lawson, Inc. announced the execution of a partnership to boost their competitiviness by promoting smartphone payments and customer loyalty programs.
The companies will provide new consumption experiences for a member base of over 100 million people and advanced technologies (5G and robotics) at Lawson's roughly 14,600 stores.
"It's very important for us to integrate payment and point services," KDDI President Makoto Takahashi said at a joint press conference in Tokyo. "We will offer next-generation convenience store services," he added.
Under the agreement, KDDI plans to acquire 2,1% of percent stake of Lawson, with an estimated investment of more than 10 billion yen ($91 million). KDDI will also take a 20 percent stake in a company running Lawson's Ponta point program, with KDDI's reward points being integrated into the Ponta program next May.
The alliance comes as competition in smartphone payments is rapidly increasing in Japan, with mobile phone carriers, retailers and financial institutions breaking into the market.
