Korean card companies to launch joint NFC payments service in bid to combat Chinese QR threat

Korean credit card companies to introduce a joint mobile payment system in March — Business Korea — “Eight domestic credit card firms have completed the development of NFC standard ‘Justouch’ and will jointly promote it by supplying 25,000 readers across the nation by the end of next month… They are concerned about the possibility of Chinese counterparts encroaching on the domestic market if they don’t take action now as mobile payment is very common in China.”

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