Japanese Megabank Mizuho to Develop Fintech Payments Platform for IoT Devices

Mizuho Financial Group has announced the development of a secure FinTech payment platform to be used by connected IoT (internet of things) devices such as connected cars and vehicles, smart home devices, wearables and more.

It is one of the earliest efforts by a bank to provide account access to customers through smart devices beyond mobile phones and tablets. Japanese banking giant Mizuho, in a recent announcement, has announced its intention to conduct research and development to connect IoT devices to the bank’s IT system, over secure communications protocols.

The aim is to bring more convenience and accessibility for customers who are moving away from traditional banking at branches toward online and mobile banking and other third-party services enabled via API integration.

Powering IoT Devices with Payment Connectivity

In order to develop the payments platform for IoT devices, Mizuho will partner SORACOM Inc., a Japanese IoT platform provider. SIM cards, circuit cards that are commonly found on all smartphones and mobile devices to enable connectivity will be jointly developed by the bank and the connectivity

Read more ... source: CryptoCoinsNews

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