KDDI Seeks Banking JV
KDDI said on Thursday it was in talks with the Bank of Tokyo-Mitsubishi UFJ to set up a new bank that would allow shoppers to pay for their purchases electronically using their mobile phones. Among the possible options, KDDI’s “au” brand mobile phone customers would be able to have bank accounts linked to their phones and use the devices to spend money up to the account balance, a KDDI spokesman said.