Edy, provided by Rakuten, Inc. in Japan is a prepaid rechargeable contactless

smart card A smart card (SC), chip card, or integrated circuit card (ICC or IC card), is a card used to control access to a resource. It is typically a plastic credit card-sized card with an Embedded system, embedded integrated circuit (IC) chip. Many smart ...

. While the name derives from euro, dollar, and yen, it works with yen only.

History

Edy was launched on January 18, 2001, by BitWallet, with financing primarily from

Sony is a Japanese multinational conglomerate (company), conglomerate headquartered at Sony City in Minato, Tokyo, Japan. The Sony Group encompasses various businesses, including Sony Corporation (electronics), Sony Semiconductor Solutions (i ...

, in addition to then other companies, including NTT Docomo and the

Sumitomo Group The is a Japanese corporate group and ''keiretsu'' that traces its roots to the ''zaibatsu'' groups that were dissolved after World War II. Unlike the ''zaibatsu'' of the pre-war period, there is no controlling company with regulatory power. In ...

. NTT Docomo's

i-mode i-mode (, ) is a Japanese mobile internet (distinct from wireless internet) service operated by NTT DoCoMo. Unlike Wireless Application Protocols, i-mode encompasses a wider variety of internet standards, including web access, e-mail, and ...

mobile payment service

Osaifu-Keitai , which means "Wallet Mobile", is the standard mobile payment system in Japan. Osaifu-Keitai services include electronic money, identity card, loyalty card, fare collection of public transits (including railways, buses, and airplanes), or credi ...

, which launched on 10 July 2004, included support for BitWallet's Edy. In 2005, over a million payments had been made with the service. On 18 April 2006,

Intel Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, and Delaware General Corporation Law, incorporated in Delaware. Intel designs, manufactures, and sells computer compo ...

announced a five billion yen (approx. US$45 million, or 35 million euros as of May 20, 2006) investment in bitWallet, aimed at furthering its usage on computers. On 1 June 2012,

Rakuten is a Japanese technology conglomerate based in Tokyo, founded by Hiroshi Mikitani in 1997. Centered around the online retail marketplace Rakuten Ichiba, its businesses include financial services utilizing Fintech, digital content and communi ...

acquired Edy, changing the official name to RakutenEdy and the parent company from bitWallet to RakutenEdy Inc. The three-oval blue-tone logo was changed to the Rakuten logo and the font of the word 'Edy' was altered.

Mobile phones

Edy can be used on

featured cellphones. Makers of these phones include major cell phone carriers such as docomo, au and

SoftBank is a Japanese multinational Investment company, investment holding company headquartered in Minato, Tokyo, that focuses on investment management. The group primarily invests in companies operating in technology that offer goods and services ...

. The phones can be used physically like an Edy card, and online Edy features can be accessed from the phones as well, such as the ability to charge an Edy account. Sony PaSoRi RC-S320

References

External links

Edy official homepage
{{Japanese smartcards Rakuten Products introduced in 2001 2001 establishments in Japan 2012 mergers and acquisitions Japanese brands E-commerce in Japan Online payments Contactless smart cards