Japanese telco NTT Docomo takes stake in German bank

Japanese telco NTT Docomo takes stake in German bank

Japanese telco NTT Docomo has moved to boost its mobile payments operations in Germany, buying a controlling stake in private bank Bankverein Werther.

In 2009 NTT Docomo acquired German mobile content distribution firm net mobile, which already provides some finance-related services, including operator-billing systems, such as premium SMS payments.

The Japanese firm has now committed EUR28.4 million to the German unit, most of which will be used to acquire a controlling stake in Bankverein Werther, a private German bank with strong electronic commerce and payment services.

Tapping Bankverein Werther's existing banking and credit card licenses, as well as its systems, net mobile will boost its m-payment platform, offering direct debit and credit card transactions and developing various means of settlement.

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