New legislation (its proposal draft[J]), which allows nonbanks to deal with payments and money transfers, was approved by the Lower House of Japan today. It will accelerate competition in reducing remittance charges among banks and potential service agents in this market. In order to protect consumers from damages caused by possible bankruptcies of remittance agents,… Continue reading New Law Approved To Permit Nonbank Remittance And To Accelerate E-Commerce Deals