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.