Yomiuri: NTT Docomo, Mizuho plan cash transfers by phone
NTT Docomo Inc. and Mizuho Bank are set to collaborate on the launching of a service enabling cell phone users to transfer money via their phones, it was learned Tuesday. Provided the sender of the money and the payee are both NTT Docomo users, the planned service will enable the sender to transfer money to the bank account of the payee simply by inputting the payee's cell phone number. The service would not require users to open a new or special bank account. NTT Docomo plans to transfer money on behalf of Mizuho Bank through the bank agency scheme, the company said. Acting on behalf of banks to provide such services as withdrawals, deposits and transfers of money and the offering of personal loans became possible for nonfinancial firms after the Banking Law was revised in April 2006 to introduce the scheme. If NTT Docomo is able to obtain the necessary approval from the Financial Services Agency, the company plans to start providing the service as early as summer, the company said...more...
