Chairman Hwang Chang-gyu: "We will lead the Korean-Chinese 'fintech' industry with easy mobile payments."
"The convergence of big data and other ICT technologies with finance… Also applied to the mobile wallet service 'CLiP'."

KT and BC Card are joining hands with China's largest credit card and financial payment service provider, UnionPay, to take the lead in expanding touch-type card payment solutions that can be easily used in mobile environments.

KT (Chairman Hwang Chang-gyu), BC Card (CEO Seo Jun-hee), and UnionPay International (UPI) held a 'Mobile QuickPass Card Launch Ceremony' at the China UnionPay (CUP) headquarters in Shanghai, China on the 27th.

The event was attended by Chairman Hwang Chang-gyu, BC Card President Seo Jun-hee, CUP Chairman Geo Hwa-yong, and UPI Northeast Asia Regional Director Seong Bo-mi.


Chairman Hwang Chang-gyu emphasized, “KT Group will lead the revitalization of the ‘Fintech’ (fusion of ICT and finance) industry that makes customers’ lives more convenient based on innovative information and communication technology (ICT) solutions such as big data and biometric authentication,” and “I hope this cooperation will become the starting point for promoting the development of the fintech industry in both Korea and China.”

BC Card, a financial affiliate of KT and UnionPay's card business partner in Korea, will be the first in Korea to use the mobile card standard specification 'H' developed by UPI in July under this agreement.We are launching a mobile QuickPass card based on Host Card Emulation (CE). This marks the first time a foreign company has adopted the HCE standard.

QuickPass is a near-field communication (NFC)-based service that allows payments to be completed by holding a QuickPass-enabled IC card close to a dedicated terminal. Mobile QuickPass cards store payment information in the cloud, allowing payments to be completed simply by holding a smartphone up to the card.

Customers of the newly launched mobile Quick Pass service can make payments by simply touching their smartphones at over 7 million dedicated terminals installed in five countries – China, Korea, Hong Kong, Taiwan, and Australia – without using plastic cards. It is also expected to be applied to KT’s mobile wallet service ‘CLiP’ in the future.

Previously, KT and BC Card completed all certification procedures, including card and approval tests, with BCTC (China IC Card Certification Center) in early August last year for the launch of the UnionPay Mobile QuickPass Card, and also successfully completed payment tests using the Mobile QuickPass Card at Chinese and domestic merchants.