Korean Telcos To Roll Out Contactless Payment
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.
Stumble It!
Add your comment... (note that all comments are reviewed before they're published)