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Korean Telcos To Roll Out Contactless Payment

Tags » Mobile Payments, Near Field Communication (NFC) » Comments (0)

Card Technology reports on plans by South Korea’s major mobile operators - led by SK Telecom and KTF - to roll out contactless payment to their subscribers.

The telcos see an additional revenue source in retail payments. They will take .1% of each purchase transaction and will also receive $40 to $50 from credit card companies for each customer they sign up. Besides retail payment, the operators are also allowing subscribers to tap their phones to cover transit fares.

Posted: Apr 28, 2006 04:39 AM Pacific | Permalink | |

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