KTF To Trial Pay-Buy System Before World Launch

This October KTF will trial the mobile payment system Pay-Buy Mobile in Seoul along with all the players in the value chain (banks, credit card companies, retail organizations, handset makers, etc) to check the viability of the system. If its successful the system will be expanded to 24 operators worldwide, including Cingular, China Mobile and NTT DoCoMo, reports The Korea Times. The big difference between Pay-Buy and many current mobile payment systems is that Pay-Buy will work in foreign countries and thus act more like an international credit card. The initiative is spear-headed by the GSM Association. While it’s true that the vast majority of mobile use is within a single country, probably even a single city, there’s a lot to be said for a standard system. If there isn’t much domestic difference between different mobile payment systems the one with roaming capabilities will be at an advantage—and the technology has already drawn the attention of some of the largest carriers in the world