Mobile commerce is beginning to gain a fair deal of momentum in the world. The concept is proving to be appealing to consumers that have become conjoined with their smart phones. The problem, however, is that those with NFC-enabled smart phones do not account for the majority of the market, putting mobile commerce in a precarious position. A Korean telecommunications company has designed a solution that could save the future of the industry.
SK Telecom, South Korea’s largest mobile telecommunications company, has developed a new SIM card that can imbue any mobile device with NFC connectivity. NFC-enabled mobile devices are currently scarce as the market awaits the release of new devices from companies like Nokia and Apple. This lack of NFC devices is a contributing factor to the sluggish adoption of mobile commerce. SK Telecom is poised to give the industry a push in the right direction with their new SIM card and may, in fact, trigger a industry-wide revolution.
The SIM card can turn any mobile phone into a device that can interact with NFC technology. NFC is sometimes used in marketing but its true proficiencies lie within the realm of commerce. The drawback of the card, and older mobile devices, is that it does not allow users to store financial information. A simple chip or memory card can be added to existing phones to enable this, but the phone will lack sufficient security measures to keep financial information safe.