iPhone Offline Payment 'Shinhan Card Touch Payment M' Pilot Service

Payment Module Installed on Franchise Payment Terminals... Mobile Payment Available for All iPhone Customers
Service Expansion Planned Mainly for Stores Used by MZ Customers in the Future

[Asia Economy Reporter Yu Je-hoon] Shinhan Card announced on the 15th that it has launched a pilot service for 'Shinhan Card Touch Payment M,' which allows payment by simply holding an iPhone near the merchant's payment terminal.

Shinhan Card Touch Payment M works by emitting ultrasonic waves through the Shinhan Play application installed on the iPhone. The payment module embedded in the merchant's payment terminal receives the ultrasonic waves and converts them into payment information to complete the transaction. It also offers the convenience of shaking the iPhone to make a payment.

Since Shinhan Card Touch Payment M requires the payment module to be embedded in the merchant's payment terminal, it can be used regardless of the customer's iPhone model as long as the Shinhan Play app is installed. The Touch Payment M module has been developed in two types: a hardware type that attaches to the terminal and a software type that can be installed on mobile terminals.

Shinhan Card initially started the Touch Payment M pilot service at cafes and some stores located at its headquarters in Jung-gu, Seoul. The service will gradually expand mainly to stores frequented by MZ generation customers (born between the 1980s and 2000s).

Meanwhile, Shinhan Card's 'iPhone Touch Payment Service,' which involves attaching a wallet-type touch payment device to the iPhone for payments, continues to gain popularity. In particular, the second-generation wallet released at the end of January experienced an early sell-out.

A Shinhan Card official said, "The Touch Payment M service started from the reverse idea of applying touch payment technology to the merchant's terminal rather than the customer's smartphone," adding, "We will strive to realize Shinhan Financial Group's vision of 'Easier, More Comfortable, and Newer Finance' by continuously innovating mobile payments and providing customers with a more convenient payment environment."

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