‘More than half of Japan’s 85 million mobile phone users could soon be ditching the plastic and using their handsets as electronic credit cards.
According to reports, NTT DoCoMo, Japan’s biggest mobile phone company, is in the final stages of talks to expand its mobile payment services with at least one leading credit card company.
DoCoMo sources said the firm planned to take a 33.4% equity stake in Sumitomo Mitsui Card, Japan’s second-biggest credit card firm with 12.8 million subscribers. The stake would give DoCoMo a veto at shareholder meetings.
DoCoMo is also said to be in talks with JCB, Japan’s leading credit card company.’
Read more at Plan to use phones as credit cards
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