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(TM) mobile Internet service on the FOMA(TM) 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.
In addition to anytime, anywhere convenience, DOCOMO's mobile remittance service does not require the payee to register for the service or open a new bank account. In addition, since the payer basically only requires the payee's phone number to make the remittance, the payee does not have to divulge any private banking details.
DOCOMO envisions customers using the service as a fast and easy way to take care of money matters with friends and acquaintances, such as transferring money to a family member or settling up one's cost of a dinner with a group of colleagues.
DOCOMO received approval from the Kanto Local Finance Bureau on June 30 to launch and operate the service as a bank agent on behalf of Mizuho Bank, Ltd.
The charges per payment (including consumption tax) will be 105 yen for the payer and 65 yen for the payee. The payee is not charged, however, if the remittance is deposited into a Mizuho Bank account or credited to their monthly DOCOMO phone bill.
The service will not be available to corporate subscribers.
About NTT DOCOMO
NTT DOCOMO is the world's leading mobile operator and provider of advanced mobile services. The company serves over 54 million customers in Japan, including 48 million using i-mode, the world's most popular mobile e-mail/Internet platform, and 49 million using FOMA, the world's original 3G mobile service based on W-CDMA. As a leader in the development of cutting-edge mobile technologies, DOCOMO is continually expanding the role of mobile phones as versatile and highly personalized "lifestyle tools" for everyday life, including with a wide range of innovative services for mobile payments, GPS, mobile TV, multimedia content and much more. NTT DOCOMO is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com
About Mizuho Bank, Ltd.
Established on December 1, 2002, Mizuho Bank is a subsidiary of Mizuho Financial Group, one of the largest financial institutions in the world, offering a broad range of financial services including banking, securities, trust and asset management, credit card, private banking service through its group companies. Mizuho Bank, as a key bank in the group, primarily serves individuals, small and medium-sized enterprises (SMEs) and middle-market corporations, and local governments in Japan. Its 493 branches and offices in every prefecture in Japan hold accounts for some 25 million individual customers and provide finance for around 100,000 customers among SMEs and middle-market corporations. Visit www.mizuhobank.co.jp/english.