July 19, 2004
Mobile Phones Aim to Take Load Off Wallets
Japan's largest mobile operator, on Saturday became the first operator to launch a wallet phone, equipped with Sony Corp's FeliCa smart chip, which can be quickly read by passing it over a scanner, reports Reuters.
"The concept of a wallet phone is just getting off the ground, but the smart chip technology is not new in Asia.
Tokyo commuters have used "Suica" train passes with an embedded FeliCa chip for nearly three years, and 9,000 convenience stores, restaurants and retail outlets around the country accept pre-paid rechargeable debit cards known as Edy.
East Japan Railway, which plans to offer mobile Suica late next year, said it has over 8 million Suica users, while 4.5 million Edy cards have been issued.
"The biggest advantage of Edy is that it gets rid of coins ... and transactions are faster," said Takashi Nakamura, manager at bitWallet Inc., which operates the Edy network.
"Users are also attracted to additional benefits that retailers offer like special discounts, membership points or mileage.
Nakamura said it was too early to consider taking the technology overseas to Europe and the United States, but admitted that bitWallet decided on the name "Edy," which stands for euro, dollar and yen, with global ambitions in mind.
In other parts of Asia, Hong Kong residents use "Octopus" smart cards to access trains, buses, and ferries or pay for merchandise or parking. Singapore also has a similar system.
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