Mizuho Cooperates With Metaps To Develop New Digital Wallet App

Mizuho Cooperates With Metaps To Develop New Digital Wallet App
20.04.2017 07:00 am

Mizuho Cooperates With Metaps To Develop New Digital Wallet App

E-Wallets , Infrastructure

Mizuho Financial Group, Inc., Mizuho Bank, Ltd., Metaps Inc., and WiL LLC signed an agreement for capital participation and business cooperation for the purpose of providing a new settlement service using FinTech. 

Based on a memorandum of understanding signed by the four companies on October 13, 2016, the four parties will establish a new company with the primary purpose of providing a new digital wallet app for electronic payments and leveraging big data.

This jointly-established new company will be able to take advantage of Mizuho's customer base and expertise in financial services together with Metaps' data analytics and electronics payments knowledge and smartphone app expertise, along with support from WiL, a venture capital firm with an extensive network of cutting edge service providers, to create and provide the new payment services detailed below.

Overview of New Company The following basic points were agreed upon regarding the company's establishment. The company's capital structure will be negotiated between the four founding companies with consideration of the new company's medium- to long-term outlook. 

1. Name: M Wallet Preparation Company Inc. 
2. Head office location: 6-8-1 Nishi Shinjuku, Shinjuku-ku, Tokyo 
3. Purpose of business: 1) Facilitation of electronic payment via digital wallet app 2) Payment data-leveraged marketing 3) Other related business 
4. Date of establishment: May 1, 2017 (scheduled) 
5. Representative Director: Mitsuhiko Ogihara (currently President & CEO of SPIKE Payment Inc.) 
6. Launch of operations: Summer 2017 (scheduled)  

Outline of Digital Wallet App for Electronic Payment* 
1. Issuance of e-money credited directly from bank account 
2. Provision of digital wallet app that utilizes e-money 
3. Targeted marketing that connects users with member stores through analysis of payment data 

Related News

Tola Mobile Processes 15 Million Monthly Transactions in Africa

International mobile payment service provider, Tola Mobile, has today announced further expansion in Africa, it now processes 15 million monthly transactions across the... Read more »

CPP Launches Wallet Tracking and Card Lock Service

CPP Group Plc (“CPP” or “the Group”), the innovative product marketing business, today announces the launch of Lasu, your wallet’s early warning system. 

Lasu combines... Read more »

Standard Chartered Completes Mobile Wallet Collection for Juneyao Airlines

Standard Chartered Bank (China) Limited ("Standard Chartered China") announced that the Bank had successfully completed mobile wallet collection for Juneyao Airlines, a... Read more »

Telenor Wallet Reveals Tap-and-Pay Functionality

Telenor Hungary has announced the launch of new tap-and-pay functionality in its Telenor Wallet application. 

The service, developed and operated by internationally... Read more »

Co-op Chooses ACI Worldwide for Cloud-based Mobile Wallet Service

ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, today announced that The Co-operative Group (Co-op), one of the UK’s largest... Read more »

Amdocs to Mobile Wallet Providers: No full use of loyalty programmes, no extra financial gain

Amdocs (NASDAQ: DOX), provider of customer experience solutions, has announced the findings on a consumer and service provider survey. It showed that mobile financial service (... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App