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SBI Money Tap Sees New Investors

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Back in March, we covered an article called “13 New Banks Invest in SBI’s MoneyTap” and we haven’t heard much from SBI in regards to MoneyTap since then. Well that has changed, as we get news coming out of Japan that four new banks are participating in Money Tap, which provides next-generation financial infrastructure for cashless promotion, bringing the total to 29 banks.

SBI put out a press release which you can find here:

https://www.sbigroup.co.jp/news/2019/0830_11652.html

At this point, we can confirm 3 out of the 4 new banks as the 4th was not listed.  Here is the list of the 3 new banks which will become shareholders.

  1. Awa Bank
  2. North Japan Bank
  3. Third Bank

It’s funny to think that just 5 months ago we had a list of 13 banks that were going to participate in MoneyTap as shareholders and today we learn about 4 new banks which brought the total to 29.

Here is the full list, it is only 16 so we still need to discover the other 13:

  1. Awa Bank
  2. North Japan Bank
  3. Third Bank
  4. Atago Bank
  5. Kiraboshi Bank
  6. Keiyo Bank
  7. San-in Joint Bank
  8. Shiga Bank
  9. Shimizu Bank
  10. Shinsei Bank
  11. Suminobu SBI Net Bank
  12. Suruga Bank
  13. Seven Bank
  14. Hiroshima Bank
  15. Fukui Bank
  16. Hokuriku Bank

The one particular bank that should stand out in this group is “Seven Bank”. The reason Seven Bank should stand out to everyone is that Seven Bank is the largest convenience store ATM business. On March 28th, Seven Bank announced that the number of ATMs installed has exceeded 25,000.  According to data released by Seven Eleven, the largest convenience store in Japan, the number of stores as of 2017 is over 20,000 and sales are over 4.7 trillion yen.

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