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FamilyMart to launch cashless payments

Convenience store operator FamilyMart UNY Holdings Co. Ltd. will introduce cashless payments with an app-based service in July 2019, the Nikkei Asian Review reported.

Users can update their FamilyMart mobile apps for the Famipay update, which can display QR codes for cashiers at any of the company's 17,000 convenience stores. Users can load money to their accounts by paying at the counter or linking the account to a credit card.

The update aims to track purchases and improve product development while fostering more store visits.

The Famipay update, developed by FamilyMart and its parent Itochu Corp., will also include a points-based rewards system, the report added.

Other retailers, including Alibaba and 7-Eleven, implemented cashless payments earlier this year.