Digital Media Buzz > NTT DoCoMo rolling out mobile payments program

NTT DoCoMo rolling out mobile payments program

By: fiercemobilecontent.com

Japanese operator giant NTT DoCoMo announced it will launch a new mobile payments service enabling consumers to send money to fellow subscribers. The service, which launches July 21, allows DoCoMo’s i-mode mobile web customers to remit up to 20,000 yen (about $208 U.S.) per transfer by inputting the recipient’s mobile phone number–the recipient receives a mail notification via their DoCoMo handset, and is given the option of depositing the money in a domestic bank account or having the amount credited to their monthly phone bill.

Subscribers can receive remittances totaling up to 200,000 yen (about $2,080 U.S.) per month. DoCoMo adds that the service does not require user registration or new bank accounts, noting that it envisions customers using the service as a means to take care of money matters with friends and acquaintances–for example, transferring money to a family member or settling up one’s cost of a dinner with a group of colleagues. The service will not be available to corporate subscribers………[read entire story]