NTT DoCoMo and Sumitomo Mitsui today jointly announced that they agreed to form a strategic, business and capital alliance for the launch of a credit-payment service using DoCoMo "Mobile Wallet" phones equipped with smart-card functions for cashless payments.

Sumitomo Mitsui Card will leverage its expertise as a general credit card company to establish infrastructure for mobile credit-card payments ranging from small to large amounts, including the installation of terminals at member retail shops nationwide to enable customers to make payments with mobile-wallet handsets. The company will promote mobile-wallet services by merging them with existing services.

As part of the tie-up, DoCoMo plans to acquire 34% of Sumitomo Mitsui Card's common shares for approximately 98 billion yen, including new shares to be issued by Sumitomo Mitsui Card.

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