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Business deals

Japan's Mizuho to acquire 7.5% of Vietnam's M-Service pay app

Investment up to $170m aimed at Asia's growing online services business

Mizuho looks to catch up with peers in the growing Asian mobile payment market with its MoMo investment. (Source photos by Akira Kodaka and Reuters)

TOKYO -- Japan's Mizuho Bank will take a stake in M-Service, the largest smartphone payment company in Vietnam, Nikkei has learned.

The bank is expected to invest up to 20 billion yen ($170 million) to acquire 7.5% of the company by the end of the year to leverage the Vietnamese company's retail business.

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