Digital Garage Group Provides the “CASH POST” BtoC Wire Transfer Service to the Sankei Group Union and Sankei Communications Union
~Achieving DX in Wire Transfer Payment of Congratulatory/Condolence Money, Expense Reimbursement, and More~
The DG Group, centered on Digital Garage, Inc. (TSE first section: 4819; HQ: Tokyo; Representative Director, President Executive Officer and Group CEO: Kaoru Hayashi; DG), provides its “CASH POST”*1 BtoC wire transfer service to the Sankei Group Union and Sankei Communications Union for the reimbursement of congratulatory and condolence money made by the union to its members, travel and transportation expenses, etc.
■ About the “CASH POST” BtoC wire transfer service
“CASH POST” is a service that companies use to send wire transfers and refund money to individuals. There is no need to acquire or handle any personal information, such as bank account information. Business operators can quickly send wire transfers to customers just by registering an e-mail address, which lessens the burden of wire transfers and eliminates the need to manage personal information. Consumers can choose from four withdrawal services offered via “CASH POST”: online bank transfer, docomo Kouza, cash withdrawal at Lawson stores, and Seven Bank’s “ATM Uketori” service.
“CASH POST” offers multiple means for registering wire transfer information and depositing funds to be sent, depending on the scale of the funds transfer and operational structure of the business operator. This service helps business operators drastically cut costs and labor for wire transfer processing, and also makes it much easier and quicker for consumers to receive money. In addition, “CASH POST” has lower handling fees than past methods, such as postal money orders, payment certificates, and registered mail, and no monthly fees are charged.
The Sankei Group Union and Sankei Communications Union have previously used cash or bank transfer payments to give congratulatory and condolence money to members, and to reimburse business trip travel expenses for union activities, etc. They chose “CASH POST” to avoid face-to-face money handover under the circumstances of the spread of COVID-19, also to prevent the labor and risks involved in collecting and managing bank account information, which is personal information.
In addition to congratulatory/condolence money payment and business expense reimbursement, “CASH POST” is used for a wide range of applications including refunds provided for customer returns from online and mail order shopping; refunds for event cancellations, suspended public transportation operations, etc.; cash-back promotions, prize money; reward money; and point redemption. This service has been adopted by corporations and other corporate bodies, as well as unincorporated “associations without juridical personality”*2 like the Sankei Group Union and Sankei Communications Union.
■ Future developments
The government and private sector are working to promote cashless payments, which are becoming an established payment method in daily life. However, there are still many wire transfer methods that involve a great deal of labor and high costs for both the sender and recipient.
The DG Group offers services to achieve DX in financial transactions between business operators and consumers, from payments to wire transfers. It is implementing “DG FinTech Shift,” a Group strategy that integrates payments and data, to provide more convenient FinTech services to business operators and consumers in a wide range of situations. The DG Group will create payment services and develop next-generation services combining its strong payment infrastructure with the Group’s many businesses and services.
*1: When the Payment Services Act came into effect in April 2010, DG Group company ECONTEXT was registered as a Funds Transfer Service Provider in 2011 with the Financial Services Agency (registration number: Kanto Local Finance Bureau Chief 00030). “CASH POST” was one of the first wire transfer services in the industry.
*2: Among the organizations formed by multiple parties to achieve a specific objective, this refers to an association without juridical personality. Includes labor unions, scientific societies and other academic societies, parent-teacher associations, condominium associations, etc.
* The Payment Services Act regulates fund transfers other than banking, as well as certificates and electronic money such as gift certificates and prepaid cards.