Nov 28 (NHK) - Japanese messaging app provider LINE is teaming up with Mizuho Financial Group to launch a bank. It will not have any outlets and specialize only in providing services for smartphone users.
LINE has more than 70 million users in Japan. The firm has been trying to step up its ability to offer payments via smartphone. Company officials hope the tie up with Mizuho will allow it to provide these services and more.
Meanwhile, Mizuho hopes to acquire new customers by working with LINE, which has a large user base of young people.
Both companies are also looking at offering loan services.