A remittance service for individuals through smartphones led by major banks will start in October.

Some banks, such as major banks, have a policy of waiving fees, and attention will be paid to how far the service will spread.

This service, which targets person-to-person remittances of 100,000 yen or less, will be launched sequentially from October 11, 2019 through a payment service company jointly established by major banks such as Mitsubishi UFJ, Sumitomo Mitsui, Mizuho, ​​and Resona. To do.

By entering mobile phone numbers and e-mail addresses through each bank's smartphone app, it will be possible to send money easily with lower fees than before.

Not only major banks but also more than 30 regional banks nationwide will participate in the service, and each bank will consider the level of fees, but some banks, such as major banks, have a policy of waiving fees.

Each bank says that the introduction of the service will reduce the cost of managing cash, although the fee income will decrease, and it seems that there is also an aim to lead to new business in the field of cashless payment.

In the future, they want to make it possible to transfer money from banks to other smartphone payment services, and it will be interesting to see how far the service will spread.