SEOUL, KOREA – In the mobile payment market, the non-usim camp is going on the offensive against the usim-based mobile payment platform that mobile operators have held fast to.
The Financial Informatization Council, comprised of 43 members including banks, credit card companies, securities firms and IT companies, are charging ahead with the commercialization of microSD chips (a new mobile payment platform).
Financial circles will adopt financial microSD chips as early as the end of March.
Such moves are a declaration of war by financial institutions and PG (Payment Gateway) solution companies against mobile carriers which have thus far held hegemony over mobile financial transactions.
The members of the Financial Informatization Council include public institutions (such as the Bank of Korea and the KFTC (Korea Financial Telecommunications & Clearings Institute)), Samsung Electronics, SKC&C, SOLACIA, Kona International, SME Networks, BC Card, NH Nonghyup Card and Woori Bank.
The Financial Informatization Council has even developed its own microSD chip prototype to replace usim chips with microSD chips in the mobile payment market.
Sean Chung (hbpark@etnews.com)
**Article provided by etnews [Korea IT News]
[Reference] : http://english.etnews.com/electronics/2715655_1303.html
