UFJ NICOS Co. will tie up with the Visa International credit group to expand UFJ NICOS Smartplus mobile-phone payment service, officials at the two firms said Thursday.
The service, already offered by UFJ NICOS, the core credit card firm of the Mitsubishi UFJ Financial Group Inc., allows people who have mobile phones with integrated circuit chips to pay for purchases by swiping their phones across sensors, which pick up the customers' credit card information.
Under the arrangement, UFJ NICOS will allow Visa to use its Smartplus payment service free of charge and the two companies will set up a new firm to handle the new service.