# Olive (SMBC + Sumitomo Mitsui Card)

> Source: https://docs.barcoder.ai/docs/wallets/smbc-olive
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Sumitomo Mitsui Financial Group — official](https://www.smfg.co.jp/)

## Overview

**Olive** = **Sumitomo Mitsui Banking Corporation (SMBC) + Sumitomo Mitsui Card Company comprehensive financial service** launched March 2023 for individual customers <sup>[1][1], [2][2], [Japan report](https://docs.barcoder.ai/docs/payments/JP)</sup>. **Olive growth trajectory**:
- **February 2024**: 2M accounts (~1 year after Mar 2023 launch)
- **July 2024**: 3M accounts (~1.5 years after launch)
- **Hailed as the new standard of financial services**

**Distinctive Olive positioning** <sup>[1][1], [3][3]</sup>:
- **Comprehensive financial service** — seamlessly combines bank accounts + card payments + financing + online securities + online insurance on **a single app**
- **SMBC + Sumitomo Mitsui Card joint product** — distinctive bank + card-company integrated offering
- **Hailed as "the new standard of financial services among many"** — distinctive Japanese banking-superapp positioning
- **SMBC parent**: Japan Big-3 bank (alongside MUFG + Mizuho)

## History

**2001 — Sumitomo Mitsui Banking Corporation (SMBC) formed** via Sumitomo Bank + Sakura Bank merger.

**2002 — Sumitomo Mitsui Financial Group (SMFG) holding company** established (TSE: 8316).

**March 2023 — Olive launched** <sup>[2][2]</sup> by SMBC + Sumitomo Mitsui Card as comprehensive financial service for individual customers.

**February 2024 — Olive reaches 2M accounts** (~1 year after Mar 2023 launch) <sup>[2][2]</sup>.

**July 2024 — Olive reaches 3M accounts** (~1.5 years after launch) <sup>[3][3]</sup>.

**2025 — Olive enters next growth phase with new features** <sup>[4][4]</sup> — distinctive Tokyo FinTech (Norbert Gehrke) coverage.

## Ownership & operator

**Operating entity**: **Sumitomo Mitsui Banking Corporation (SMBC)** + **Sumitomo Mitsui Card Company** (both subsidiaries of Sumitomo Mitsui Financial Group); **Sumitomo Mitsui Financial Group (SMFG)** parent (TSE: 8316).

**Major shareholders (SMFG)**: **Master Trust Bank of Japan + Custody Bank of Japan + various Japanese institutional + TSE public float** (widely held; significant Sumitomo + Mitsui group + Japanese institutional ownership).

**Regulators**: **FSA (Financial Services Agency of Japan)** + **BoJ (Bank of Japan)** + per-country.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | Olive app (iOS + Android; comprehensive financial service for individual customers) + SMBC Direct (SMBC retail mobile banking) + SMBC cards (Sumitomo Mitsui Card) + SMBC branch network |
| **Identifiers** | Phone + card number + Japanese ID |
| **JP rail** | **[JPQR](https://docs.barcoder.ai/docs/standards/jpqr)** (JP national QR + JP standard QR + interoperability with PayPay + Rakuten Pay + d-barai + au PAY) |
| **License** | Bank (SMBC full Japanese banking license; Japan Big-3 bank) |
| **Sub-products** | Olive (comprehensive financial service: bank accounts + card payments + financing + online securities + online insurance on single app) + SMBC Account + SMBC Cards (via Sumitomo Mitsui Card) + SMBC Loans + SMBC Mortgages + SMBC Investments + SMBC Nikko Securities (SMBC's securities/brokerage arm) + SMBC Aviation Capital + SMBC Indonesia (PT Bank BTPN; SMBC subsidiary) |
| **Olive distinctive**: Bank + card company JV; seamlessly combines bank + card + financing + securities + insurance on single app |

## Users & growth

**Baseline** <sup>[1][1], [2][2], [3][3]</sup>:
- **March 2023**: Olive launched
- **February 2024**: 2M accounts (~1 year after launch)
- **July 2024**: 3M accounts (~1.5 years after launch)
- **2025**: Olive enters next growth phase with new features (Tokyo FinTech coverage)
- **Japan Big-3 bank** (SMBC parent)

## Use cases

Japanese individual customers' comprehensive financial service via Olive app — seamlessly combines bank accounts + card payments + financing + online securities + online insurance on single app; SMBC corporate + multi-country retail + investment banking via SMBC Direct + SMBC Nikko Securities + SMBC Aviation Capital + SMBC Indonesia (PT Bank BTPN).

## Implementations & partners

**Operator**: **Sumitomo Mitsui Banking Corporation (SMBC) + Sumitomo Mitsui Card Company** (Sumitomo Mitsui Financial Group; TSE: 8316).

**Major shareholders (SMFG)**: **Master Trust Bank of Japan + Custody Bank of Japan + Japanese institutional + TSE public float** (widely held).

**Major Japanese banking + payment competitors**:
- **[MUFG Bank (Mitsubishi UFJ Direct app)](https://docs.barcoder.ai/docs/wallets/mufg-bank)** (MUFG Bank; Japan's largest financial group; total assets ~US$2.7T)
- **[Mizuho Bank (Mizuho Direct + Mizuho Wallet)](https://docs.barcoder.ai/docs/wallets/mizuho-bank)** (Mizuho Bank; Japan Big-3; Mizuho Direct ~12.6M online banking customers Mar 2024)
- **Resona Bank** (JP Top-4 + Resona Holdings)
- **Japan Post Bank** (JP government-owned postal bank; largest by retail deposits)
- **[PayPay](https://docs.barcoder.ai/docs/wallets/paypay)** (Batch 29 covered; JP mobile-payment leader; SoftBank + Yahoo Japan + Z Holdings JV)
- **[Rakuten Pay](https://docs.barcoder.ai/docs/wallets/rakuten-pay)** + **[d払い (d Barai)](https://docs.barcoder.ai/docs/wallets/d-barai)** + **[au PAY](https://docs.barcoder.ai/docs/wallets/au-pay)** (Batch 29 covered; JP mobile-payment ecosystem)

**SMBC subsidiaries**: **Sumitomo Mitsui Card** (Olive co-issuer) + **SMBC Nikko Securities** (securities/brokerage) + **SMBC Aviation Capital** (aircraft leasing) + **SMBC Indonesia (PT Bank BTPN)** (Indonesian banking; covered Batch 27 as Jenius parent context).

**Money Forward partnership**: SMBC's Sumitomo Mitsui Card + Money Forward basic agreement on capital/business alliance in B2C services (Jul 2024).

**Regulators**: **FSA + BoJ + per-country**.

## Fun facts

- **March 2023 Olive launch** by SMBC + Sumitomo Mitsui Card as comprehensive financial service for individual customers.
- **Olive growth trajectory**: 2M (Feb 2024) → 3M (Jul 2024) — distinctive Japanese banking-superapp adoption.
- **Hailed as "the new standard of financial services among many"**.
- **2001 SMBC formation** via Sumitomo Bank + Sakura Bank merger.
- **2002 Sumitomo Mitsui Financial Group (SMFG) holding company** established (TSE: 8316).
- **Bank + card-company joint product** — distinctive SMBC + Sumitomo Mitsui Card integrated offering.
- **Olive seamlessly combines bank accounts + card payments + financing + online securities + online insurance on single app**.
- **SMBC Indonesia (PT Bank BTPN) subsidiary** — distinctive Japanese mega-bank Indonesian banking subsidiary.

## Comparison

| Feature | Olive (SMBC + Sumitomo Mitsui Card) | [MUFG Bank (Mitsubishi UFJ Direct app)](https://docs.barcoder.ai/docs/wallets/mufg-bank) (Japan's largest financial group rival) | [Mizuho Bank (Mizuho Direct + Mizuho Wallet)](https://docs.barcoder.ai/docs/wallets/mizuho-bank) (Japan Big-3 rival; Mizuho Direct ~12.6M) | [PayPay](https://docs.barcoder.ai/docs/wallets/paypay) (Batch 29; JP mobile-payment leader) | [Itau Unibanco](https://docs.barcoder.ai/docs/wallets/banco-itau) (Brazil's largest private bank + LatAm largest comparable Japanese-bank-superapp model) |
|---|---|---|---|---|---|
| Operator | **Sumitomo Mitsui Banking Corporation + Sumitomo Mitsui Card Company (Sumitomo Mitsui Financial Group; TSE: 8316; Master Trust + Custody Bank of Japan + Japanese institutional + TSE float)** | MUFG Bank Ltd. (Mitsubishi UFJ Financial Group; TSE: 8306) | Mizuho Bank (Mizuho Financial Group; TSE: 8411) | PayPay Corporation (SoftBank + Yahoo Japan + Z Holdings JV) | Itaú Unibanco Holding S.A. (B3: ITUB4; NYSE: ITUB; IUPAR + Itaúsa + Moreira Salles family + B3 float) |
| Type | **Japan Big-3 + Olive comprehensive financial service for individuals (bank + card + financing + securities + insurance on single app); SMBC + Sumitomo Mitsui Card JV** | Japan's largest financial group + total assets approaching US$2.7T + Mitsubishi-Morgan Stanley alliance + 25+ countries | Japan Big-3 + Mizuho Direct ~12.6M online banking | JP mobile-payment leader | Brazil's largest private bank + LatAm largest by market value + Itaú App superapp |
| Country | JP + 21+ other countries | JP + 24+ other countries | JP + global | Japan primary | BR + 11 other countries |
| Users | **Olive 3M accounts (Jul 2024); 2M (Feb 2024) → 3M (Jul 2024) growth trajectory** | Total assets approaching US$2.7T; ~10.2M Mitsubishi UFJ Direct online banking (Mar 2024) | ~12.6M Mizuho Direct online banking subscribers (Mar 2024) | 65M+ users PayPay JP | ~60M customers worldwide; Nov 2025 R$460B (US$82B) market cap |
| Distinctive | **Mar 2023 Olive launch by SMBC + Sumitomo Mitsui Card; bank + card-company joint product distinctive integrated offering; Olive seamlessly combines bank accounts + card payments + financing + online securities + online insurance on single app; hailed as "the new standard of financial services among many"; 2001 SMBC formation via Sumitomo Bank + Sakura Bank merger; SMBC Indonesia (PT Bank BTPN) subsidiary** | 1880 Mitsubishi Bank predecessor; 2006 Bank of Tokyo-Mitsubishi + UFJ Bank merger; 2008 ~22% Morgan Stanley stake; Mitsubishi UFJ Morgan Stanley Securities MS-MUFG JV | JP Big-3; Mizuho Direct App + Mizuho Wallet apps | SoftBank + Yahoo Japan + Z Holdings JV; JP mobile-payment leader | 1924 centennial 2024; Itaú + Unibanco 2008 merger; LatAm's largest bank by market value Nov 2025 R$460B (US$82B); Iti digital bank for unbanked |

## Status

**Active, Japan Big-3 bank + Olive comprehensive financial service** <sup>[1][1], [3][3]</sup>:
- **Sumitomo Mitsui Banking Corporation (SMBC) + Sumitomo Mitsui Card Company** (Sumitomo Mitsui Financial Group; TSE: 8316) — SMBC since 2001 (Sumitomo Bank + Sakura Bank merger); Olive since March 2023.
- **Olive 3M accounts** (July 2024) — distinctive Japanese banking-superapp adoption.
- **Japan Big-3 bank**.
- **SMBC Indonesia (PT Bank BTPN) + SMBC Nikko Securities + SMBC Aviation Capital** subsidiaries.
- **FSA + BoJ + per-country regulated**.

## Sources

[1]: https://www.smfg.co.jp/english/gr2023/special/special02/ "Olive — Sumitomo Mitsui Financial Group"
[2]: https://medium.com/tokyo-fintech/smbcs-olives-reaches-2-million-accounts-23eb7eeb7aeb "SMBC's Olive reaches 2M accounts — Tokyo FinTech"
[3]: https://medium.com/tokyo-fintech/smbcs-olive-reaches-3-million-accounts-8a87c05ef72c "SMBC's Olive reaches 3M accounts Jul 2024 — Tokyo FinTech"
[4]: https://medium.com/tokyo-fintech/smbcs-popular-olive-app-enters-next-growth-phase-with-new-features-ec7d2e0330a0 "SMBC's popular Olive app enters next growth phase with new features — Tokyo FinTech"
[jp-cro]: https://docs.barcoder.ai/docs/payments/JP

- [1] [Olive — Sumitomo Mitsui Financial Group][1]
- [2] [SMBC's Olive reaches 2M accounts — Tokyo FinTech][2]
- [3] [SMBC's Olive reaches 3M accounts Jul 2024 — Tokyo FinTech][3]
- [4] [SMBC's Olive enters next growth phase — Tokyo FinTech][4]
- <sup>[Japan report](https://docs.barcoder.ai/docs/payments/JP)</sup> In-corpus: `reports/countries/JP-japan.md`

## Source

Biography extracted from [smbc-olive.md](https://docs.barcoder.ai/source/wallets/smbc-olive). See `matrix.md` for standards-support matrix if present.