Thursday, July 02, 2009

Mobile money: NTT DoCoMo has a service allowing transfers between users of JPY 20,000

NTT DOCOMO, INC. announced today a new service that will enable an individual subscriber to use their DOCOMO mobile phone to easily and quickly remit money to another DOCOMO user, beginning on July 21.

Customers of DOCOMO's i-mode™ mobile Internet service on the FOMA™ 3G network will be able to remit up to 20,000 yen (about 208 U.S. dollars) per transfer, basically just by inputting the payee's mobile phone number. The payee receives a mail notification via their DOCOMO mobile phone and is given the option of depositing the money in a domestic bank account or having the amount credited to their monthly DOCOMO phone bill. The payee can receive remittances totaling up to 200,000 yen (about 2,080 U.S. dollars) per month.

DOCOMO to Launch Mobile Remittance Service

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