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NTT DoCoMo announced today a new service that will enable an individual subscriber to use their DOCOMO mobile phone to easily and quickly remit money to another DOCOMO user, beginning on July 21.

Customers of DOCOMO’s i-mode mobile Internet service on the FOMA 3G network will be able to remit up to 20,000 yen (about 208 U.S. dollars) per transfer, basically just by inputting the payee’s mobile phone number. The payee receives a mail notification via their DOCOMO mobile phone and is given the option of depositing the money in a domestic bank account or having the amount credited to their monthly DOCOMO phone bill. The payee can receive remittances totaling up to 200,000 yen (about 2,080 U.S. dollars) per month.

In addition to anytime, anywhere convenience, DOCOMO’s mobile remittance service does not require the payee to register for the service or open a new bank account. In addition, since the payer basically only requires the payee’s phone number to make the remittance, the payee does not have to divulge any private banking details.

The charges per payment (including consumption tax) will be 105 yen for the payer and 65 yen for the payee. The payee is not charged, however, if the remittance is deposited into a Mizuho Bank account or credited to their monthly DOCOMO phone bill.

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