MST Method, Same as Existing Credit Card Magnetic Method
Currently Used in Payment Terminals

Imagics, a mobile solutions specialist company, announced on the 11th that it has completed performance verification and mass production preparation for the MST chip (Magnetic Secure Transmission Chip) for fintech.

The MST chip developed by Imagics this time is a product applied when making payments with a smartphone instead of a credit card by registering credit card information on the smartphone. When the smartphone is placed near a credit card payment terminal, the credit card payment information is transmitted from the smartphone to the payment terminal to complete the transaction.

Imagics stated that MST method payment is identical to the existing credit card magnetic method, and unlike the NFC method (Near Field Communication), it has the advantage of being able to use existing general payment terminals currently held by card merchants. The company explained that the MST solution consists of an MST IC for transmitting credit card information stored in the smartphone and an MST antenna for transmitting payment information output from the MST IC to the card terminal.

To date, MST method payment was only possible with Samsung Electronics' Galaxy Flagship models, but has been expanded to the recently launched New A series, enabling use in the Middle Segment as well. As Samsung Electronics expands the Samsung Pay support models that include MST method payment, volume expansion is expected starting with the application of the MST IC developed by Imagics to the New A Series.

Imagics, which was listed on the KOSDAQ market in 2010 along with Haptic Syndrome, subsequently developed a touch chip using a single-layer film electrode method (GF1) for smartphones through continuous research and development. With successful development and mass production of MST IC this time, the company is pursuing a strategy to preempt the market as a leading company in the mobile solutions field.

In addition, following recent supply of Touch Controller IC in SLOC (Single Layer on Cell) method to BOE, the company is now beginning full-scale supply of Touch Controller IC to Xiaomi, thereby expanding its business scope abroad as well.

Kim Jung-chul, Representative Director of Imagics, stated, "Following the successful development of Haptic and Touch IC products, we have successfully developed MST IC, and through increased sales and improved profit structure, we will achieve both qualitative and quantitative growth."