Users of Osaifu-Keitai phones are being extended a monthly credit line of Y10,000 and will be able to pay for their purchases by waving their phone in front of dedicated readers fitted in stores. No signature will be required and the company says the service will be free for the first year, though a fee will be charged thereafter.
Purchases costing over Y10,000 will require the customer to enter a four-digit password. The user can choose to pay in full, or in fixed installments or on a revolving-credit basis, much like a normal credit card. The bills will be attached to the users’ monthly phone bill.
