SK Telecom launches mobile payment service T-Pay
SK Telecom has rolled out its mobile payment service, called T-Pay.
South Korean telecom operator SK Telecom has rolled out its mobile payment service, called T-Pay, which enables users to make purchases without ever touching their phones.
T-Pay, which is based on Bluetooth Low Energy (BLE) hands free payment platform, currently, has more than 100,000 subscribers since its launch on 15 March 2016.
The service enables two-way communication between BLE POS (point-of-sale) and customers’ smartphones to realize hands free payment.
The newly launched platform, which includes a barcode payment feature for improved security, generates one-time barcodes every three minutes. It also encrypts all payment related data to protect user’s personal information.
The T Pay service integrates ‘T Membership’ benefits to its payment service to offer discounts provided under SK Telecom’s T Membership rewards programme that offers discounts at partner/member stores.
T Pay is charged to customer’s mobile phone bill, and allows users to make transaction up to KRW 500,000 (nearly $427) per mobile number, per billing month.