NTT DoCoMo eyes cell phone-based money transfer service
Technology ( 11 )
TOKYO —
NTT DoCoMo Inc is planning to tie up with Mizuho Bank to enable cell phone subscribers to wire money to another subscriber without knowing the payee’s bank account number, industry sources said Wednesday. DoCoMo customers will only be required to put the cell phone number of the payee into their phone and the payee will be required to specify bank accounts to which Mizuho Bank will transfer the money, the sources said.
Transfers are expected to be limited to about 30,000 yen a month for each subscriber, a DoCoMo spokesman said. Further details such as DoCoMo’s banking partner and the service charge will be decided soon.
The move follows deregulation in the banking sector allowing non-financial firms to provide such services as money withdrawals, deposits and transfers, as well as personal loans.
DoCoMo has said it will focus on new services and technologies rather than trying to win new subscribers in Japan, where almost everyone already has a mobile telephone and the population is shrinking.
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11 Comments
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namabiru4me
Let the keitai money scams begin!
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jonnyboy
what larks, pip!
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jonnyboy
i enjoyed watching the CM at the cinema the other day with the obachan watching a film of herself being duped into a transfer and screaming at herself not to push the transfer button. just how can people be so easily gulled into doing this kind of thing?
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jkoffman
Would you use your mobile for enjyokosai services, cash sounds like a better option.
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McC72
This shouldn't be news because some where last year I read on bbc Kenyans were doing it
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polarmalik
Good idea, but can be dangerous to have this service. What if the user is kidnapped and his captors demand that he/she transfer money to their accounts and since the maximum withdrawal ceiling is 30,000 he/she may be held hostage for a long time period and unknown to the police - please think about this before starting the service
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gonemad
There won't be any anonymity as both parties will see the transfer data on their bank statements.
I agree with others here that I can't see the usefulness of this new service but a lot of potential security traps.
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