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August 16, 2005
Japan's 3G leader turning itself into a financial services company
Within two years Japan's 3G leader NTT DoCoMo plans to introduce phones with an embedded company's own DoCoMo credit card. For years NTT DoCoMo has lead the Japanese market in providing data-services to mobile users. With growth slowing NTT DoCoMo is embarking on a new direction by turning itself into a financial services company.
NTT first introduced a phone that can perform e-commerce in July 2004 using credit cards from 3rd party banks. It could store up to about $450 in cash or credit-card numbers for some credit cards widely used in Japan such as JCB, so people can charge purchases using only their phone. About 22,000 retailers in Japan have installed devices at their cash registers that can receive the DoCoMo's e-commerce phone signals. Starting this January, commuters will be able to board Tokyo trains by waving their cellphone over a sensor in the turnstiles.
DoCoMo's new direction could lead the way for cellphone companies globally. The Tokyo company has 49 million customers in Japan, more than half the market, and a market capitalization of more than $80 billion. It led the industry in offering commercially viable Internet and email service over cellphones utlizing its popular i-mode phones, and also pioneered downloadable ringtones.
Posted by admin at August 16, 2005 03:36 PM