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Casio, DoCoMo form electronic payment venture

Computer company and mobile operator will develop services, equipment allowing consumers to pay for goods using their cell phones.

Casio Computer and NTT DoCoMo will form a joint venture to link cash registers with wireless electronic payment systems, the two Japanese companies said on Tuesday. The firms aim to provide services and equipment for businesses hoping to attract shoppers using their mobile phones to pay for snacks and concert tickets.

The joint venture will be established on July 9 and begin providing services on September 1, the companies said in a press release. Casio will own 60 percent of the venture, which would be capitalized at $6.13 million, while DoCoMo will hold the remaining 40 percent.