• Kyodo

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The high level of security now available on smartphones has led Bank of Tokyo-Mitsubishi UFJ to plan ATMs that use validation by phone rather than card and PIN, sources said Tuesday.

It will be the first major Japanese bank to offer a service that does not require bank cards. While a final decision has not been taken yet on timing, the bank hopes to launch the system in the spring of 2018, the sources said.

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