NTT DoCoMo introduces world's first e-wallet via the mobile phone

Posted on 17 Jun 2004 at 12:55

Japanese mobile telco NTT DoCoMo has announced a new service which will allow some of its mobile phones to be used as electronic wallets.

The service, to be launched in July, allows phones fitted with 'FeliCa' smart cards to be used for a variety of functions such as keys, train passes, a debit or credit card and personal ID card.

DoCoMo has already signed up 39 mobile service providers in Japan for the launch of the service which will provide applications to enable the new functions on their websites. The company says that it also has around 9,000 shops in Japan willing to take payments via the handsets' e-money based on Sony's Edy system
Many believe that adding these kinds of services are the next stage in the evolution of the mobile phone.

With high market penetration, telcos are trying hard to increase revenue per customer. Part of the strategy will be to add new premium functions to the phones themselves - such as video streaming. By adding things like keys, train passes and credit card to the phones functions it will become an even more indispensable - and lucrative - tool in modern life.

Author: Steve Malone

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