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Online bank to offer remittance service via e-mail.

TOKYO, Feb. 15 Kyodo

Japan Electronic Settlement Planning Inc. said Thursday it has concluded a tie-up agreement with U.S. online payment service provider PayPal for an electronic bank it plans to establish in April.

The deal will enable consumers, with accounts in the new bank tentatively called ''e Bank,'' to make remittances via e-mail from August, the Tokyo-based company said.

Money will be automatically sent when a customer inputs a receiver's e-mail address and the amount of remittance.

PayPal's service is widely used for auctions and other payments over the Internet in the United States. It currently has some six million accounts.

Japan Electronic Settlement Planning is jointly owned by Itochu Corp., Japan Telecom Co. and other companies.
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Publication:Japan Weekly Monitor
Date:Feb 19, 2001
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