Line starts bank transfer service via smartphone payment platform english.kyodonews.net

KYODO NEWS - 21 minutes ago - 15:02 | All, JapanMessaging app provider Line Corp. started Monday a new service that allows users to transfer money to bank accounts via its smartphone payment platform, a first for Japan in a crowded market.
Other mobile payment service providers in the country have enabled transfers between individuals using the same payment platform but Line allows its Line Pay users to remit money to bank accounts held by nonusers of the service, including those belonging to companies.
When a sender wants to transfer money to a bank account without knowing the bank details, he or she sends a link to the recipient's email address or phone number via a mobile phone short message service.
To complete the transaction, the receiver clicks on the link containing information about the sender and the amount to be remitted and enters information about his or her bank account, while going through a process of identification.
The new function can be used for a wide variety of services, including the monthly payment of living expenses, rent or lesson fees, Line said.