NTT DoCoMo and KT Pair Up on NFC Payments
NTT DoCoMo and Korea Telecom today announced a joint initiative to enable near-field communications (NFC)-based payments in a system that is supported in both Japan and Korea. Both companies offer their own, branded mobile payment services in their respective markets. The goal of this effort is to expand the availability of mobile payments on an international scale. DoCoMo noted that the first things to support NFC-based payments would be things such as transit services and retail locations. NTT DoCoMo said that it will submit its technology plans to worldwide standards bodies in hopes that they will be adopted and deployed around the globe. The companies have already forged business relationships with Visa, Samsung, Gemalto and several other companies to help move the program forward. They hope to have the system operational by the second half of 2012.
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