NTT DoCoMo banking on wallet phone

NTT DoCoMo announced it will pay $76.9 million for a 2 percent stake in Japan's second-largest convenience store chain in order to outfit the stores with technology that supports new mobile phones outfitted with credit card-like functionality. Initially, the deal will allow all subscribers to NTT DoCoMo's credit card payment service--Osaifu-Keitai--to use their mobile phones to pay for goods at 100 locations in and around Tokyo. The service will expand to all 8,300 stores by the end of March next year. I guess that's one way carriers can ensure a market for bleeding edge technologies.

For more on NTT DoCoMo's wallet phones:
- see this article from the AP