NTT DoDoMo goes for virtual wallets

NTT DoCoMo, Japan's mobile phone giant, battled with growing competition, is betting that mobile phones will develop into virtual wallets. From July onwards, subscribers can buy handsets with smart card electronic cash, train pass and identification card functions. Top-ups can be downloaded from the Internet. The nice piece is that once you loose the handset, owners can lock it remotely, to secure the cash balance that might still be on it.