Olive Launches New "Money Assist" Feature
Sumitomo Mitsui Financial Group, along with its subsidiaries Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Card, announce the addition of "Money Assist" provided by Sumitomo Mitsui Card to the product lineup of the comprehensive financial service "Olive" offered to individual customers.
"Money Assist" is a service that allows customers who have Olive Flexible Pay Credit Mode to borrow within a loan limit of 50,000 yen multiple times, with no fees and no interest. Repayment is made in a single payment the month following the month of use. The service can be used entirely through smartphones from application to borrowing and repayment, with funds deposited into the Olive account.
Additionally, as an optional feature of "Money Assist," a "Backup Function" is available that automatically borrows from a card loan facility (18.0% interest rate) when there are insufficient account funds during payment deductions for Olive Flexible Pay Credit Mode or Money Assist, preventing payment delays.
