TOKYO, NNA - NTT Docomo Ventures Inc., an investment unit of Japan’s top mobile carrier NTT Docomo Inc., has bought an undisclosed number of shares in Matchmove Pay Pte. of Singapore to boost online settlement services.
The company said in a statement Tuesday that the purchase was completed in April.
It did not disclose the cost of the share purchase in the Singaporean start-up, which provides a mobile wallet platform in Asia.
NTT Docomo Ventures said use of mobile wallets with essential banking features, including QR code-based payment, is growing fast in Asia as the number of smartphone users surges and as infrastructure for e-payment develops.
Matchmove Pay offers a secure, cloud-based mobile wallet platform and payment platform with price-competitive billing.
The Singaporean company is expanding partnerships with larger firms to solidify its service network. Japanese credit-card operator Credit Saison Co. bought shares in Matchmove in 2015.