Japan's biggest bank group launches digital lender with no ATM cards
ASIA.NIKKEI.COM
'QR code'
SUMMARY

MUFG Emut Bank, the new digital lender from Japan’s Mitsubishi UFJ Financial Group, will not issue ATM cards when it launches in early 2027. To withdraw cash, customers will scan a QR code from the bank’s app and enter a PIN at roughly 28,000 Seven Bank ATMs.

The app will be the only way to access accounts. Computer logins will be blocked as a safeguard against data leaks, as Japan sees a surge in AI-driven cyberattacks and phishing.

It’s the first megabank affiliate to drop cash cards. Lower costs will let it offer higher deposit rates, with interest paid daily.

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