Japan's Financial Services Agency will reportedly authorize financial institutions to offer debit card PWCB (purchase with cash back) services, already popular overseas, as an outsourced cash-withdrawal service under banking laws. Although the requisite infrastructure upgrades will be costly and Japan's existing infrastructure and payment practices pose numerous difficulties, PWCB services could help bring about a cashless society through such means as reducing costs.

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About the Author

• Masanori Miyai

  Senior Consultant

  Financial Systems Solution Department Ⅱ