Digital Wallet

What Digital Wallet does

Digital Wallet Corporation (株式会社デジタルワレット) is a Tokyo-based fintech company founded in 2014 by former Sony Group executives, including CEO Eiji Miyagawa (宮川英治). The company operates Smiles Mobile Remittance, positioned as Japan's No.1 mobile international money transfer service, sending funds to over 200 countries with access to 600,000+ cash pickup locations and 77,000+ ATMs in Japan through partnerships with Seven Bank, AEON Bank, Lawson Bank, and Japan Post Bank. The company generates revenue primarily through transaction-based remittance fees (averaging approximately 3% to the Philippines versus a 13% regional average), Smiles Premium Card transaction volume, B2B subscriptions for its mobileDMP real-time data analytics and marketing automation platform (serving 50M+ retail users via the long-standing AEON Group partnership), MVNO subscriptions through Smiles Connect, and transaction fees from the TAX REFUND JAPAN digital tax refund platform launched in February 2026.

The company's technology stack centers on AI applied to fintech: AI-powered electronic Know Your Customer (eKYC) and facial recognition - the first deployment of its kind in Japan's remittance sector in 2019 - together with real-time streaming POS data analytics and marketing automation capabilities. The company is licensed as a Type II Fund Transfer Service Provider (Kanto Local Financial Bureau Registration No. 00044) in Japan and holds licensed remittance operations in the United States, Canada, and Singapore. The firm expanded its geographic footprint to 9 countries including a US launch in June 2026 via Digital Wallet USA, targeting the 51.9 million migrant population.

The business operates a hybrid go-to-market combining a self-serve mobile app (iOS and Android with 20M+ global downloads) with extensive banking partnerships, cultural event sponsorships within diaspora communities, and a CSR program called Share Smiles (2M+ beneficiaries). Capital structure is debt-only, with two unsecured corporate bond issuances totaling approximately ¥1.2 billion ($8-9M USD equivalent) across 2022 and 2023, and no disclosed equity rounds. Key inorganic moves include the 2024 merger with Seven Global Remit, the 2021 acquisition of RediMoney Express for Singapore entry, and the 2020 establishment of Digital Wallet Canada.

Name

Digital Wallet

Legal name

株式会社デジタルワレット

Website

https://digitalwallet.co.jp

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

Digital Wallet Corporation operates Smiles, Japan's No.1 mobile international money transfer service, serving migrant workers across 9 countries with AI-powered eKYC, real-time banking, and 77,000+ ATM access. The firm also runs the mobileDMP B2B analytics platform serving 50M+ retail users.

Ownership category

akta.pro rank

Product category

Mobile Remittance & Cross-Border Payments

NAICS

Telecommunications Resellers (517121)

SIC

Finance Services (6199)

akta.pro primary industry

International / Multi-Currency Wallets (FSAMAEAL)

akta.pro secondary industries

Digital Wallet Platforms (Consumer & Merchant) (BPAMAFAC), Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)

Keywords

• Mobile remittance services
• International money transfer
• Fintech eKYC solutions
• Retail data analytics
• MVNO mobile services

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. International Money Transfer Fees: Transaction-based fees charged for international remittance services. Users can send money to 200+ countries with transparent fees. Competitive exchange rates with low transaction costs compared to regional average of 13%.
2. Premium Card Issuance: Smiles Premium Wallet Card and Smiles Premium Remit Card offered with free issuance, generating revenue through transaction volume on card-based transfers.
3. B2B Solutions (mobileDMP): AI and real-time data analytics platform provided to retailers including AEON Group. Supports POS data analysis, loyalty programs, and CRM services for over 50 million users across supermarkets, drugstores, and other retail businesses.
4. MVNO - Smiles Connect: Mobile telecommunication service for foreigners in Japan offering SIM cards and data plans without requiring credit cards or bank accounts. Revenue from monthly service subscriptions.
5. TAX REFUND JAPAN Platform: Digital tax refund platform for foreign visitors enabling refunds through bank transfers, mobile wallets, and credit cards. Retailers and tax exemption system providers pay for API integration and service access.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

Digital Wallet operates Smiles Mobile Remittance, Japan's No.1 mobile international money transfer service enabling users to send money to 200+ countries via app with AI-powered facial recognition eKYC. The company also offers mobileDMP, a B2B AI-powered real-time data analytics and marketing automation platform serving retailers with 50M+ users, and Smiles Connect, an MVNO mobile service for foreign residents. Additional offerings include TAX REFUND JAPAN, a digital tax refund platform for international visitors.

Product overview

Digital Wallet Corporation operates a multi-product fintech platform centered on Smiles Mobile Remittance, Japan's leading mobile international money transfer service with over 20 million downloads. The company offers three core business segments: (1) AI-powered Fintech services including Smiles Mobile Remittance for cross-border remittances to 200+ countries and TAX REFUND JAPAN for digital tax refunds; (2) B2B Solutions including mobileDMP for real-time POS data analytics and marketing automation serving 50M+ users; and (3) MVNO services through Smiles Connect for foreign residents in Japan. The company was founded in 2014, holds licenses in the US, Canada, and Singapore, and operates across 9 countries with 15 nationalities on its team.

Differentiator

Problem solved

Functional benefit

Brands

• Smiles: Japan's number one mobile international money transfer service with AI and facial recognition technology, supporting remittances to over 200 countries with over 1 million downloads.
• TAX REFUND JAPAN
• Smiles Connect
• mobileDMP

Products and services

• Smiles Mobile Remittance
• TAX REFUND JAPAN
• Smiles Connect
• mobileDMP
• Moba-Pro
• Kokodeuketori KOTORI

Quantifiable outcome

• Over 1 million app downloads before US market entry
• +5 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability6 records

Feature5 records

Partnerships

22 partnerships are on record, tiered core and minor.

• Philippine National BankcoreStrategic or Co-development Partner · 17 June 2026Strategic alliance with Philippine National Bank for global remittance network expansion. Real-time crediting to PNB bank accounts launched June 2026 as part of US market entry strategy targeting 51.9 million migrants.
• RCBC (Rizal Commercial Banking Corp.)coreTechnology or Integration · 14 October 2025RCBC partnership for digital remittance services enhancement. Bank is upgrading remittance capabilities amid 34% year-on-year increase in digital remittance transactions and has digitized account opening for Filipinos in 42 countries.
• BRI Bank (Bank Rakyat Indonesia)coreGTM or Marketing Partner · 30 April 2025Partnership with BRI Bank for Ramadan Blessing campaigns. Collaboration enables donations to Indonesian orphanages and underserved communities during Ramadan period.
• Seven BankcoreStrategic or Co-development Partner · 2 April 2024Partnership with Seven Bank and merger with Seven Global Remit enhanced Smiles Mobile Remittance services, providing customers access to over 70,000 ATMs nationwide for financial transactions including international money transfers to over 200 countries.
• Dompet DhuafacoreStrategic or Co-development Partner · 1 May 2023Partnership with Indonesian humanitarian nonprofit organization for charity programs including Ramadan donations, Sumatra flood relief (500,000 yen contribution), and orphan support.
• Lawson BankcoreChannel Partner/ Reseller/ Distributor · 20 March 2023Partnership for Smiles Premium Wallet Card and Remit Card acceptance at 13,500+ Lawson Bank ATMs nationwide.
• Ria Money TransfercoreTechnology or Integration · 6 February 2023Global remittance network partnership for Turkey earthquake relief. Fee waivers for Japan-to-Turkey transfers via Ria network during February 2023 disaster relief period.
• Western UnionminorGTM or Marketing Partner · 31 July 2022Co-sponsored Peru Festival alongside Western Union and Seven Bank for Latin America community engagement.
• CIMB Bank SingaporecoreChannel Partner/ Reseller/ Distributor · 23 May 2022Partnership with CIMB Bank Singapore for Digital Wallet Singapore operations. Smiles app launched in Singapore with CIMB managing local deployment and operations.
• RediMoney Express Pte Ltd (REPL)coreOEM/ Whitelabel/ Licensing Partner · 23 May 2022Acquisition of RediMoney Express in August 2021 complemented Singapore expansion, integrating retail and app assets into Smiles platform.
• KataribaminorStrategic or Co-development Partner · 24 November 2021Educational support partnership for global community in Japan. Digital Wallet provided donations for educational programs supporting international residents.
• Mutual Trust Bank Limited (Bangladesh)minorChannel Partner/ Reseller/ Distributor · 6 October 2021Partnership for overseas remittance service to Bangladesh, expanding Smiles coverage to South Asian corridor.
• Nepal Investment Bank Ltd. (NIBL)coreChannel Partner/ Reseller/ Distributor · 21 April 2021Partnership with NIBL provides the largest cash pickup network in Nepal for Japanese remittances. Offers instant account deposits via connectIPS and cash pickups across Nepal.
• Digital Wallet CanadacoreOEM/ Whitelabel/ Licensing Partner · 29 November 2020Acquisition of Canadian entity for North American market presence and Filipino community support in Canada.
• Japan Post BankcoreChannel Partner/ Reseller/ Distributor · 21 July 2020Partnership for ATM access to 31,200+ Japan Post Bank ATMs enabling instant transfers to 157 countries and 300,000 locations worldwide.
• NIMB Bank (Nepal)minorChannel Partner/ Reseller/ Distributor · 30 April 2020Partnership for Nepal remittance services. NIMB contributed to Smiles Dashain-Tihar Mahotsav 2025 campaign with bonus prizes and gold bar giveaways.
• AEON BankcoreChannel Partner/ Reseller/ Distributor · 31 March 2020AEON Bank ATM CARD issuance enabling Smiles users to access AEON Bank ATMs for international remittance services.
• Cashway Money Transfer (Nepal)coreChannel Partner/ Reseller/ Distributor · 30 January 2020Partnership with Cashway Money Transfer for Nepal remittance services, enabling direct transfers to Nepal with native language support.
• Sacombank-SBR (Vietnam)coreTechnology or Integration · 18 September 2017Partnership since 2018 for Japan-to-Vietnam remittances. Enables instant bank deposits (tens of seconds to 2 minutes) and cash pickups through Sacombank network. Joint charitable initiatives include gold bar giveaways and disaster relief donations.
• elDesign Co., Ltd.minorStrategic or Co-development Partner · 18 October 2016Joint venture partner for Fujimi Mori Energy Co., Ltd. - regional power retail and service development in Fujimi Town, Nagano Prefecture.
• Prime Style Co., Ltd.minorStrategic or Co-development Partner · 18 October 2016Joint venture partner for Fujimi Mori Energy Co., Ltd. - regional power retail and service development in Fujimi Town, Nagano Prefecture.
• AEON GroupcoreStrategic or Co-development Partner · 1 November 2014Long-term partnership for POS data analytics, loyalty and CRM services. AEON's 50+ million retail users supported by Digital Wallet's real-time streaming analytics platform.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Others

• MoneyGram: Large incumbent money transfer operator with global agent network. Comparable corridor coverage and migrant customer base to Smiles, but with a more legacy agent-based model versus Smiles' mobile-led approach.

Emerging players

• Revolut: Global multi-currency digital wallet expanding into remittance. Comparable on multi-currency wallet infrastructure and app-led customer experience, though targeting a broader consumer base than Smiles' migrant focus.
• Sakura Mobile: Japan-based MVNO serving foreign residents with multilingual support. Comparable to Smiles Connect in offering mobile connectivity to the underbanked foreigner segment, often bundled with lifestyle/financial services.

Broad incumbents

• Western Union: Global incumbent in cross-border money transfers with 600,000+ agent locations — directly overlapping Smiles' payout network and corridor coverage. Notably, Western Union is also a co-marketing partner of Smiles for Latin America community events.

Regional players

• World Family (Sony Bank): Sony Bank's remittance service for foreign workers in Japan. Notable competitive overlap with Smiles given DWC's Sony heritage and the close Japanese fintech market for migrant remittance.
• SBI Remit: Japan-focused online remittance service from SBI Group, one of Smiles' main domestic competitors in the Japan-to-Philippines, Vietnam, and other Asian corridors.
• GoRemit (Seven Bank): Seven Bank's flagship international remittance service. Notable as both a Smiles partner (post Seven Global Remit merger) and a direct competitor in the Japan outbound remittance market.

Direct peers

• Remitly: US-based mobile-first remittance platform targeting migrant corridors globally. Comparable to Smiles on migrant customer base, mobile app-led GTM, and corridor-based take-rate economics; Remitly is publicly traded and operates at significantly greater scale.
• Wise: UK-based multi-currency wallet and cross-border payments company. Comparable as a digital wallet offering cross-border money movement to many countries with transparent FX; serves a broader demographic than Smiles' migrant focus.
• WorldRemit: Mobile-first international money transfer service targeting diaspora communities globally. Closely aligned with Smiles on migrant segments, app-led onboarding, and bank/agent payout networks in destination countries.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/smilesremit.jp
• LinkedInlinkedin.com/company/digital-wallet-corporation

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Digital Wallet