NTT DOCOMO presents new PayPal-like service

Japan’s leading mobile carrier NTT DOCOMO presented the new mobile remittance service, providing with availability of a new PayPal-like service starting July 21. The new solution will offer customers an easy and quick way of sending money to other DOCOMO subscribers, via a DOCOMO phone.

Thus, new DOCOMO’s solution will let users remit up to 20,000 yen ($207) per transfer and up to 200,000 yen ($2,070) per month. The service can only be compatible with phones that use the DoCoMo i-mode mobile Internet service on the carrier’s FOMA 3G network. 

DOCOMO’s new service will charge users 105 yen per transfer for the payer and 65 yen per transfer for the payee. But if the remittance is credited to a monthly DOCOMO bill, or it’s deposited into a Mizuho Bank account, the payee will not be charged.