The South Korean government is set to approve a service that will enable consumers to authenticate mobile payments by tapping a contactless card on the back of their NFC phone. “Last week, the government notified the relevant firms,” Yonhap News Agency reports. During this initial stage “only users who have credit cards issued by South Korean firms can access the new authentication system. Commercial service is expected to begin late this year.”
- Apple Pay goes live in Austria
- Apple to open up the iPhone’s NFC chip at WWDC?
- Alipay to invest $448m promoting face recognition payments in stores
- Visa unveils next generation payments platform
- German central banker calls for European payments network