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Zentoshin Bankruptcy: Seven Card Companies to Pay Uncollected Sales Proceeds of 5.4 Billion Yen in Full
The bankruptcy trustee of Zentoshin, a credit card payment processing agent that went bankrupt in July, announced on the 25th that card companies will pay in full the 5.4 billion yen in sales proceeds that merchants had been unable to collect. Merchants are expected to receive the funds around October 30. The seven companies that will pay the uncollected funds are UC Card, JCB, Mitsubishi UFJ Nicos, Sumitomo Mitsui Trust Club, Sumitomo Mitsui Card, AEON Financial Service, and Credit Saison, all of which had partnerships with Zentoshin. The 5.4 billion yen in uncollected sales proceeds, including amounts from before the start of bankruptcy proceedings and mainly arising during July, is covered.
8253.JP · Capital · Negative Credit Saison is one of seven card companies required to pay in full the 5.4 billion yen in uncollected Zentoshin sales proceeds.
8570.JP · Capital · Negative AEON Financial Service is one of seven card companies required to pay in full the 5.4 billion yen in uncollected Zentoshin sales proceeds.
JCB Co., Ltd. · Capital · Negative JCB is one of seven card companies required to pay in full the 5.4 billion yen in uncollected Zentoshin sales proceeds.
Mitsubishi UFJ NICOS Co., Ltd. · Capital · Negative Mitsubishi UFJ Nicos is one of seven card companies required to pay in full the 5.4 billion yen in uncollected sales proceeds from Zentoshin's bankruptcy.
Sumitomo Mitsui Card Company, Limited · Capital · Negative Sumitomo Mitsui Card is one of seven card companies required to pay in full the 5.4 billion yen in uncollected Zentoshin sales proceeds.
UC Card Co., Ltd. · Capital · Negative UC Card is one of seven card companies required to pay in full the 5.4 billion yen in uncollected sales proceeds from Zentoshin's bankruptcy.