Tokyo, July 7, 2009 (JCN) - NTT Docomo Inc. will launch a new service jointly with Mizuho Bank to enable subscribers to transfer money via mobile phone handsets without opening new bank accounts.
Rival KDDI Corp., the operator of the 'au' brand mobile phone service, has already been offering a similar banking service, but its service requires its users to open new bank accounts.
Under NTT Docomo's money transfer service, subscribers input the receiver's phone number and part of their surname to make a payment of up to 20,000 yen (US$208.28), which will be charged on their monthly bills with a fee of 105 yen (US$1.09).
The recipient can use the transferred money to pay their phone bills or put into their bank accounts via Mizuho Bank.
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