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July 2, 2009

NTT DOCOMO To Launch Mobile Remittance Service

The service will not be available to corporate subscribers

By CBR Staff Writer

NTT DOCOMO has received approval from Kanto Local Finance Bureau to launch and operate i-mode mobile Internet service on the FOMA 3G network service, as a bank agent on behalf of Mizuho Bank.

The new service is likely to enable an individual subscriber to use their DOCOMO mobile phone to remit about $208 to another DOCOMO user per transfer, beginning July 21.

The company said that 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 only requires the payee’s phone number to make the remittance, the payee does not have to divulge any private banking details.

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 totalling up to $2,080 per month.

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NTT DOCOMO is a Japan-based mobile operator and provider of mobile services.

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