The cooperation is expected to enable the creation of an interoperable and contactless payment environment for mobile phone users in Korea and Japan. Thus, customers will be able to perform mobile transactions after downloading a mobile payment application to their mobile devices. In addition, an array of other services such as mobile coupons, membership discounts and mobile gift vouchers, already in use in Korean and Japanese markets, will be made available via NFC handsets.
The collaboration among the three mobile companies located in Korea and Japan started from the consensus on the need for a mutually compatible mobile payments market.
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