IC-chip Phone Credit Card Service Is a Hit in Japan
NTT DoCoMo DCMX service which enables mobile phones with an IC chip for making credit purchases in stores has attracted more than 860,000 people. Customers can avail $83.80 of instant credit to users of newer phone which are compatible with DoCoMo’s mobile wallet service. The system is dependant on a non contact smart card platform and payment can be made by placing the phone closer to a reader terminal. The company is using this system for the purpose of reducing its reliance on voice services for revenue purposes. Will this payment system bring an end to the credit card era? Let’s see.
Tags: Business, credit card, DCMX service, japan, NTT DoCoMo