DoCoMo adds phone-to-phone cash

NTT DoCoMo Inc. and Mizuho Bank Ltd. will start a joint service this month enabling cellphone service subscribers to conduct financial transactions to other phones via their handsets.

The two companies said DoCoMo cellphone users will be able to send payments by accessing a special I-mode Internet site and punching in the cellphone number of the recipient, along with two kana characters from his or her last name.

The amount sent and a commission of 105 yen will be charged to the sender's monthly bill.

The recipient can choose between using the money to pay for a phone bill or having it forwarded to a bank account. Cellphone holders do not need to set up bank accounts or preregister for the service.(IHT/Asahi: July 4,2009)