Regional banks plan to enhance customer service by introducing as early as summer a smartphone app for making person-to-person remittances.
By using a money transfer system to be introduced by megabanks this year, the remittance fees charged by regional banks -- including the Bank of Yokohama and the Bank of Fukuoka -- will be lower than those charged for their online banking services or be made free of charge. Remittance amounts will be capped at 100,000 yen.
Faced with competition from smartphone payment services such as PayPay that also handle person-to-person remittances, the regional banks will enhance convenience for users.
