NTT DoCoMo Inc., Mizuho Bank and Credit Saison Co. will tie up on a service allowing cell phones to be used as credit cards, sources said Saturday.
As part of the alliance, NTT DoCoMo plans to buy Mizuho Bank-held shares in UC Card Co. for 1 billion yen to become the card company's third-largest shareholder with an 18 percent stake, the sources said.
Mizuho Bank is UC Card's biggest shareholder, followed by Credit Saison. UC Card specializes in credit card settlement services, while Credit Saison issues UC and Saison cards.
DoCoMo tied up with Sumitomo Mitsui Card Co. in December to provide a similar service. The mobile phone giant plans to expand alliances with other card companies.