Home  News Mobile News Mobile phone becomes credit card
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Mobile phone becomes credit card |
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Written by Kristin
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Sunday, 13 November 2005 |
Now that Japan's mobile-phone market is approaching saturation, NTT Docomo Inc. is diversifying beyond communications traffic by launching a credit card business on its i-mode mobilephone platform. D
ocomo launched a prepaid electronic money service last year using the Osaifu-Keitai mobile phone, which came equipped with virtual wallet functions. Since then, Docomo has offered 12 models of the wallet phones and has signed up about 7 million subscribers for the service. But, although the wallet phone expanded the role of mobile phones into everyday life, the revenue the company derived from this service was not significant.
Now Docomo has moved one step ahead in the cashless payment business to become a credit card issuer that will add the credit card charges paid by card member stores to its revenue. The company considers the launch of its credit card business a turning point in its effort to move away from a business model that depends on communications traffic charges. Docomo will launch the credit card brand, called iD, on Dec. 1. At that time, Docomo's mobile phone users will be able to make credit card payments using the Osaifu-Keitai mobile phone. Docomo expects the number of users for its wallet phone handset will grow to 10 million by the end of the company's fiscal year in March 2006.
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Last Updated ( Wednesday, 11 October 2006 )
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