The new service will allow subscribers to pay for goods and services with DoCoMo’s handheld devices, which are equipped with smart-card functions that enable cashless payments.
DoCoMo will issue a new credit card for the program that can be used in conjunction with the Sumitomo Mitsui Card. At the same time, the Sumitomo Mitsui Card group will develop ATMs that will be compatible with the handsets.
As part of the collaboration, DoCoMo said it plans to acquire 34% of Sumitomo Mitsui Card’s common shares for 98bn yen, in a move that will give the company a cut of the fees received by Sumitomo Mitsui when its cards are used. Sumitomo meanwhile will have access to DoCoMo’s subscribers.
