TOKYO -(Dow Jones)- Japanese mobile phone operator NTT DoCoMo unveiled Tuesday a new mobile phone-based credit card service, which it plans to roll out later this month.
NTT Docomo's DCMX credit services will allow subscribers to buy goods by passing specially equipped phones over readers. The transactions will then be added to user's monthly phone bills.
The initial service, called DCMX mini, will be launched on April 28 and offer a Y10,000 credit limit.
Japan's largest mobile phone operator by subscribers will also introduce a full-scale service offering credit lines from Y200,000, cash advances and a DCMX GOLD mobile credit-card service at a later date, it said.
While no signatures will be required to make purchases, transactions above Y10,000 will require users to enter a four-digit security number to allay security concerns.
Other security features will include remote locking functions if phones go missing and an optional password function every time the DCMX service is used.
-By Jamie Miyazaki, Dow Jones Newswires; +81 3 5255 2955; jamie.miyazaki@dowjones.com
-Edited by Tomoko Hosaka
(END) Dow Jones Newswires "
Posted to the site on 4th April 2006
Posted to: www.cellular-news.com/story/16816.php