Debit cards debut in Japan

Debit cards debut in Japan
Tags: Debit / Credit
February 24, 2002

TOKYO -- Outlets of eight Japanese commercial concerns including Seibu Department Stores Ltd. began accepting debit cards, according to the Nihon Keizai Shimbun. Cards issued by post offices, Fuji Bank and six other financial institutions can now be used to pay for items at the stores.

A total of 419 financial institutions, including regional banks, and 112 restaurant and retail chains are expected to join the scheme later in the year. The cards double as postal savings or bank ATM cards.