KDDI launch mobile banking service

Second placed Japanese mobile operator KDDI is believed to be in talks with local bank, Mitsubishi UFJ Financial Group, over a venture to offer banking services via mobile phones.

The two firms are planning to set up a company before the end of this year, with the intention of launching operations in 2007, press reports said.

Mitsubishi UFJ and KDDI are planning to develop handsets with debit card functionality.

Leading rival NTT DoCoMo has already invested heavily in mobile banking services. Earlier this month, the operator announced an agreement with Mizuho Bank and card company UC Card, for the development and promotion of technologies allowing a mobile phone to be used to make card payments.

DoCoMo also launched its FeliCa mobile payment service on its FOMA 3G network in 2004, allowing users to make transactions and withdraw cash with their handsets. Vodafone Japan is also offering the service.

Tags: 3G, Japan, KDDI, NTT DoCoMo, Vodafone

This entry was posted on April 16th, 2006 and is filed under Operators. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or Trackback from your own site.