South Korea to test NFC payments in busiest market in the nation

MyeongDong Street South Korea Mobile Commerce

NFC-powered mobile wallets are getting their first large scale, real world trial in Seoul, South Korea. The city is home to one of the busiest marketplaces in the world, known as Myeong-Dong Street. Hundreds of shops line the street, making it a prime testing ground for the performance of mobile payments. The Korea Communications Commission has teamed with several telecommunications companies, such as Samsung and Nokia, to bring NFC terminals to more than 200 stores lining the street. Smart devices are becoming very popular in South Korea. The number of…

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South Korea to add 300,00 new Pay-By-Phone checkouts at major retail counters

South Korea NFC Shopping

South Korea has announced its intentions to either newly install or upgrade the mobile payment units at 300,000 checkouts, enabling major transport services and retailers to accept customer payments by way of mobile devices such as cellular phones. This attempt is only the latest in several efforts made by the country to encourage this potentially profitable market, with the competitive introduction of Apple Inc. and Google Inc.’s services for payment by phone. The communication commission of the country stated that it would also be requiring all vendors of smartphones to…

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