LotteCard Opts for Gemalto’s Contactless Sticker for Payments and Transport in South Korea

LotteCard Opts for Gemalto’s Contactless Sticker for Payments and Transport in South Korea
17.11.2016 06:30 am

LotteCard Opts for Gemalto’s Contactless Sticker for Payments and Transport in South Korea

Payments , Infrastructure

Gemalto, the world leader in digital security, is supplying its Optelio Contactless Stickers to LotteCard – one of Korea's largest credit card networks. The miniature size sticker is one third the size of a standard banking card and designed to adhere to the surface of any mobile phone. Owing to a bigger antenna and an advanced shielding technology, the sticker offers the best performance and minimizes the interferences common in latest smartphones. It has been certified by international payment associations, and is part of Gemalto's comprehensive range of wearable products. 

Using the Lotte Sticker, users can make payment at 35,000 stores throughout South Korea, and enjoy the convenience of paying for bus, subway, or taxi rides by simply tapping their phone on the readers. The sticker also doubles as a credit card for online shopping. It can be applied directly from LotteCard's website, or through Lotte Group's department stores.

Contactless payment is immensely popular in South Korea. In a recent survey1 with 2,500 households, 31.8 percent of the respondents have been enjoying such services. The same report also cites 19.9 percent using their phones for public transport payments. In fact, ABI predicted that all payment terminals in Korea would be contactless by 2019, driven by increased proliferation of contactless cards[1].   

"Featuring five fashionable designs, the Lotte Sticker is a fun and convenient alternative for users to commute and pay for their daily expenses", said Kim Byung-jun, Team leader of Smart Business Team of Lotte. "Market response has been overwhelming with close to 300,000 cards issued since the initial launch in April." 

"LotteCard is committed to innovation, and the sticker card has proven to be an effective way for the company to quickly introduce mobile contactless payment to its users," said Suzanne Tong-Li, President, Greater China and Korea at Gemalto.  ​

Related News

Contactless card PIN limits to increase temporarily to help reduce the risk of COVID-19 transmission

Australian Payments Network (AusPayNet), the self-regulatory body for the payments industry, confirmed today that the payment industry will be increasing the PIN limit for... Read more »

Mastercard enables higher contactless payments across Canada

 Mastercard announced it is enabling the increase of contactless payment limits across Canada, as people look... Read more »

Pannovate partners up with Salt Edge to deliver instant PSD2 compliance

Pannovate, UK’s leading payment and digital banking technology company, has partnered up with Salt Edge, leader in offering open banking and secure customer... Read more »

Xpring Now Supports Interledger STREAM

In December, we announced the launch of xpring.io, a developer site that includes a wallet, tools, services, and documentation... Read more »

COVID-19 Crisis Highlights Need for Real-Time and New Digital Payments Services Around the World, New ACI Worldwide Research Reveals

More than half a trillion real-time payments transactions will be processed over the next five years, according to Prime Time for Real-Time, a new global report from ... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel