The 64 members of the Regional Banks Association of Japan have agreed on a plan that will allow customers to make bank transfers and real-time settlements (i.e., debit transactions) until 18:00. Amid the growing popularity of internet shopping, the move will let customers make transactions that immediately apply to their accounts on their way home from work. (The current cut-off time is 15:00.) Meanwhile, the 191-member strong Japan Banking Association, which includes regional banks as members, plans to develop a new payment processing system by sometime in 2018 as a step toward 24-hour banking. For the time being, the Regional Banks Association has agreed to the three-hour extension, but some members are expected to offer services until later in the evening. However, weekend transactions will still not be applied until the next business day. Source: Nishinippon Shimbun 11/29
