Cell Phone Credit Cards Increase 12-fold to 6 Million
The number of people using their cell phones as credit cards in Japan has grown to almost 6 million, 12 times what it was this time last year.
Users can make payments by merely holding their cellphone handset with a credit card function over a specialized reader at cashier's counters in stores.
Taxis, convenience stores….the number of readers has grown 3-4 times in the past year to around 240,000 units nationwide.
Payments can be withdrawn from a bank or other savings account and gift points aren't sacrificed. Oh, boy!
Japan has three electronic settlement formats for cell phones:
1. iD system operated by NTT DoCoMo Inc. and Sumitomo Mitsui Card Co
2. QUICPay service provided by JCB Co. and Toyota Finance Corp.
3. Visa Touch/Smartplus offered by Mitsubishi UFJ Nicos Co.
It sure is getting easier to spend money you don't have.
How much is your credit card debt?
Tags: 2963, 3202POSTED IN: All about Japan
0 opinions for Cell Phone Credit Cards Increase 12-fold to 6 Million
No one has left a comment yet. You know what this means, right? You could be first!
Have an opinion? Leave a comment: