AtoJ and Life Card Launch Debt Resolution Experiment Using Online Platform
The experiment tests whether a neutral online platform can replace costly manual collection methods and improve repayment rates in the credit card industry.
Reporting from 1 sources: ASCII.jp.
AtoJ and Life Card have begun a demonstration experiment using the OneNegotiation online dispute resolution platform to facilitate dialogue-based debt resolution. The system lets debtors scan a QR code to select payment options, including installment plans or lawyer coordination. The companies aim to reduce collection costs and improve repayment rates. According to AtoJ, this is the first full-fledged ODR initiative in Japan's credit card industry.
Traditional debt collection relies on postcards and phone calls, which require significant personnel and printing costs. Life Card, which serves a user base mainly in their 20s and 30s, found that many customers did not respond due to 'careless' or 'non-malicious reasons' such as not noticing the payment error or financial struggles. The OneNegotiation platform offers a QR code-based interface where debtors can choose immediate payment, installment plans, or even request online lawyer coordination. AtoJ and Life Card hope this dialogue-based model will reduce human and financial costs while improving resolution rates. The experiment is the first of its kind in Japan's credit card industry, according to AtoJ's research.
Synthesized by Yomimono from the 1 cited source below, including Japanese-language reporting where cited, then editorially reviewed before publishing.