South Korea will install or upgrade 300,000
m-payment checkouts at retailers and transport services during 2011
in its latest push to increase using of the technology.
The Asia-Pacific country’s communications
commission told Reuters will require mobile phone vendors
to equip all smartphones with NFC technology.
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According to the same source, mobile operators
and credit card firms have agreed to install or upgrade checkouts
with NFC processing technology in retailers, fast food outlets,
coffee chains and petrol stations. Card companies are also playing
their part by offering discounts to customers using mobile payment
services to promote the industry.
“Mobile payment technology has been available
since early 2000 but it failed to take off for various reasons …
but today’s agreement is a small step toward mutual growth going
forward,” the head of the Korea communications commission told
Reuters.
Authorities expect the new initiative to boost
NFC-enabled phones to more than 5m units this year.
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By GlobalData
