Korean telecoms operators launch NFC payment services in China

The target customers are expected to expand from Korean tourists in China to the Chinese in general in the long term.

Korean telecommunication service provider KT has launched the Union Pay Mobile QuickPass Card with BC Card. The QuickPass is an NFC and touch-based payment service developed by Union Pay International. A payment can be made when an IC card supporting QuickPass is brought into contact with a QuickPass terminal and then a signature is required. KT and BC Card completed the tests for the release of the product with the Bank Card Test Center (BCTC) early in August 2015.

LG U+ has recently unveiled that it will provide Union Pay mobile credit cards and payment services with KB Kookmin Card from September 2015 for LG U+ and KB Kookmin Card users. The telecoms operator recently developed and tested a USIM carrying the Union Pay application program, and is about to obtain approval from the credit card certification center of the People’s Bank of China. The users can use NFC-based mobile credit card payments at five million or so Union Pay terminals in China starting in September.