According to the press release, the planned service will help Japanese tourists visiting locations in Southeast Asian countries, which have very low card penetration and high card fraud risks. The partners plan to bring this service into effect in the first months of 2020.
Consumers will need to register their credit card information on the SOCASH app, using their smartphones to withdraw cash without having to use their cards at multiple outlets and convenience stores. Furthermore, the two companies aim to incorporate tokenization to ensure reliability and security for card members using the app.
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