FUND TRANSFER
The Payment Services Act has enabled you to transfer or send money (as long as the amount is one million yen or less and only through registered Fund Transfer Service Providers) domestically and internationally via the counter of a travel agency or convenience store, the Internet, mobile phone, and other ways.
The Payment Services Act requires companies to have a prior inspection before you are registered by the prime minister in order to start Funds Transfer Service.
To be registered, companies need to meet specific requirements (ex. protection of deposited money, business structure, financial ability, and compliance) to ensure the provision of safe and stable Funds Transfer Service.
Only Kabushiki-kaisha or Foreign Funds Transfer Service Providers, who are registered abroad according to a law equivalent to the Payment Services Act, can be registered in Japan. Solo proprietorships are not able to start Funds Transfer Service.