[Click eStock] "SBI Fintech Benefits from Growth in Japan's Electronic Payment Market"

[Asia Economy Reporter Hyungsoo Park] Ebest Investment & Securities on the 6th named SBI Fintech Solutions as the biggest beneficiary in the untact (non-face-to-face) era.

SBI Fintech Solutions provides international remittance services and online and offline payment services.

Researcher Bae-seung Jeon of Ebest Investment & Securities explained, "Since the outbreak of the novel coronavirus infection (COVID-19), cash usage has decreased worldwide, and demand for untact, contactless payments is expected to increase," adding, "Due to the prolonged impact of COVID-19, changes will also appear in Japan."

He continued, "Given Japan's characteristic of experiencing labor shortages, the main customer base for overseas remittances, technical intern trainees, is steadily increasing," and added, "With the revision of the Immigration Control Act last year extending the allowable residence period, the overseas remittance market size is expected to grow."

Researcher Jeon also analyzed, "The Japanese electronic payment market is rapidly growing," and "The Japanese government has set a target of 40% for cashless payment ratio and is expanding payment infrastructure."

This content was produced with the assistance of AI translation services.