Easy Mobile Payment with Just Phone Number... BC Card Launches 'PhonePay' Platform

Easy Payment with Just a 6-Digit Password After Initial Registration

[Asia Economy Reporter Yu Je-hoon] BC Card has launched a mobile simple payment platform that allows easy payment using only a mobile phone number.

BC Card announced on the 3rd that it has launched 'PhonePay,' a mobile simple payment platform utilizing customers' mobile phone numbers.

With the launch of this service, customers can select PhonePay as the payment method at affiliated online merchants and make simple payments through the payment method linked to their mobile phone number using only a 6-digit password.

The PhonePay service is available to anyone aged 14 or older who is subscribed to a mobile carrier, regardless of the telecommunications company. Customers need to register their mobile phone number, payment method, and payment password once in the registration window that opens when selecting PhonePay at affiliated merchants. All payment information is encrypted using BC Card's tokenization technology.

Initially, the payment methods available for registration will start with BC Card, accounts, and points, and will be expanded to other card companies as well. Additionally, BC Card plans to focus its partnership capabilities and technological expertise to enable customers to use PhonePay not only at online merchants but also at offline merchants.

BC Card developed this service based on the view that while the simple payment market has grown through the launch of various services, it has now entered a mature phase focused on qualitative growth centered on customers' characteristics and needs.

Meanwhile, to promote PhonePay, BC Card plans to collaborate with CJ Group to enhance payment convenience and customer digital experience based on PhonePay within CJ Group's commerce and content ecosystem, starting with CJ ONE membership, PG, and gift card services. Furthermore, BC Card intends to lead customer experience innovation based on PhonePay through synergy at the DigiCo KT level with KT, K Shopping, and others.

Park Bok-yi, Executive Director of BC Card's Payment Business Division, said, "PhonePay is an innovative service combining telecommunications and payments," adding, "It will establish itself as a universal payment service that anyone, regardless of age or gender, can use easily and conveniently, leading a new paradigm in the simple payment market."

This content was produced with the assistance of AI translation services.