GSMA Adopts KTF's NFC-enabled Mobile Payment System
March 03, 2007
At the 3GSM World Congress in Barcelona, Spain, held on February 13, GSM Association announced that it will adopt a global mobile payment system proposed by KTF, named Pay Buy Mobile. A strategic alliance has been formed by KTF and other 14 leading telecoms worldwide, including AT&T, China Mobile, KALL, KTF, MCI, MTN, NTT DoCoMo, Rogers Wireless, Smart Communications, Telenor, TeliaSonera, Telecom Italia, Turkcell, and Vimpelcom. With the system, which leverages NFC (Near Field Communications) technology, mobile payments can be performed by using a SIM (Subscriber Identification Module)/ UICC (Universal Integrated Circuit Card) card incorporated in the mobile phones. KTF stated that it plans to trial test the system in Korea in 2007.