Digital Wallet Corporation acquires Seven Global Remit to streamline remittances in Japan
By Gloria Mathias
Global IT and FinTech company, Digital Wallet Corporation (DWC), has reached an agreement with Seven Bank, a Japanese bank run by Seven & i Holdings Co. Ltd., to acquire its subsidiary and international money transfer service, Seven Global Remit.
DWC owns and operates Smiles Mobile Remittance (Smiles), known as Japan’s mobile remittance application. This acquisition will allow DWC and Seven Bank to collaborate in redefining and improving the landscape of international money transfer services and financial inclusion for foreign residents in Japan.
With the alliance between DWC and Seven Bank, all Smiles customers will gain access to Seven Bank’s extensive ATM network after the service transition, enhancing convenience. This partnership establishes Smiles Mobile Remittance as the premier choice for foreign residents in Japan, providing access to the country’s ATM network.
In 2014, DWC Founder and CEO Eiji Miyakawa, a former Sony Corporation leader of a cloud technology group, started Digital Wallet with engineers from Sony with the same goal of utilising IT and FinTech to maintain peace and sustain international society. Since its launch in 2017, Smiles Mobile Remittance has assembled a diverse team representing over 13 nationalities, each contributing their talents to deliver exceptional service.
“We started Smiles with the ambition to offer a fair, fast, and affordable remittance service for our hardworking migrant workers,” said Eiji Miyakawa, DWC Founder and CEO, “and because we made it happen, we’ve been receiving mass support from our customers, and now we’re number one in Japan.”
“We’re very grateful that Seven Bank approached us to work with them,” added Miyakawa. “It goes to show how much they trust our expertise in IT and fintech, and we are even more motivated to help the growing number of migrant workers in Japan. Through this alliance, we strive to deliver a better international society with the Seven Bank team.”
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