NTT DOCOMO, Japan’s leading mobile carrier, has announced the upcoming availability of a new PayPal-like service that will offer customers an easy and quick way of sending money to other DOCOMO subscribers, via a DOCOMO phone.

The new mobile remittance service will be available starting July 21. It will allow users to remit up to 20,000 yen ($207) per transfer and up to 200,000 yen ($2,070) per month.

The service will only be compatible with phones that use the DoCoMo i-mode mobile Internet service on the carrier’s FOMA 3G network, and it will not be offered to corporate subscribers.

Operating “as a bank agent on behalf of Mizuho Bank, Ltd.”, DOCOMO’s new service will charge users as follows: 105 yen per transfer for the payer and 65 yen per transfer for the payee. However, if the remittance is credited to a monthly DOCOMO bill, or it’s deposited into a Mizuho Bank account, the payee will not be charged.

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