Microfinance Focus, December 13, 2010: Japanese telecom company, KDDI will be investing $22 million in Microfinance International Corporation (MFIC), a US based financial solution provider to develop an open mobile payment platform worldwide.

KDDI which has a global relationship with over 600 carriers will use MFIC's money transfer solution – advanced payment/settlement system connected to a network of payers in 90 countries enabling mobile network operators to offer financial services to unbanked customers worldwide.

As the first step of collaboration, in January 2011 Locus Telecommunications Inc., KDDI's subsidiary headquartered in New Jersey is launching a new service in the US, allowing customers to send money overseas using a multi-purpose calling card.

MFIC offers ARIAS, a money transfer solution, and other services to provide financial service providers an immediate infrastructure of securely delivering value-added services to underserved markets.