Gemalto says it is supplying its Optelio Contactless Stickers to LotteCard, one of Korea’s largest credit card networks.
Using the Lotte Sticker, users can make payments at 35,000 stores throughout South Korea, and can also use it to pay 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 for directly from LotteCard’s website, or through Lotte Group’s department stores.
Contactless payment is immensely popular in South Korea. In a recent survey conducted by ABI Reserch with 2,500 households, 31.8% of respondents have been using such services. The same report also cites almost 20% using their phones for public transport payments. ABI predicted that all payment terminals in Korea will be contactless by 2019, driven by increased proliferation of contactless cards.
“Market response has been overwhelming with close to 300,000 cards issued since the initial launch in April.” said Kim Byung-jun, team leader of Lotte’s Smart Business Team.
“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.
The sticker, which has been certified by international payment associations, 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 the latest smartphones, Gemalto says.