DoCoMo signs deal for ‘wallet-phone’ plan

29 Mar 2006

NTT DoCoMo is to pay JPY9 billion (USD76.9 million) for a 2% stake in Japan’s second largest convenience store, Lawson, to expand the use of new mobile phones that function like credit cards. In a statement, DoCoMo said the deal would allow users to pay for their goods in 100 retail outlets using the new Osaifu-Keitai (wallet-phone) service. The service will be rolled out to all Lawson’s 8,300 stores by next March as DoCoMo looks for fresh revenue streams in a saturated local market.