The ZEP, short for zero-effort payment, service allows customers with smartphones to make payments without entering their password or launching an app.(image:BC Card)
SEOUL, Dec. 3 (Korea Bizwire) – BC Card, Korea’s biggest credit card company, said on December 2 that it has launched the “ZEP Service,” a simple smartphone-based payment solution that can be used in merchant establishments without online capability, in partnership with the state-run Electronics and Telecommunications Research Institute. The ZEP, short for zero-effort payment, service allows customers with smartphones to make payments without entering their password or launching an app.
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All the customer needs to do to pay with her smartphone is download the ZEP app and execute the app automatically at a beacon-installed establishmentin her first visit. Afterward, the customer doesn’t need to do anything except getting close to the POS terminal and pressing the enter button for authorization after all payment steps are taken. A BC Card official said, “This will make it much easier and faster for visitors to sporting events or concert venues as ZEP will speed up the admission process.”
For those customers using the ZEP service online, it will strengthen its security measures. Instead of requiring a password, ZEP will make use of the FIDO(Fast IDentity Online) technology that asks customers to enter their biometrics data such as fingerprint or facial recognition patterns. BC Card will try toexpand the ZEP-enabled merchant network from early next year.
By Lina Jang (linajang@koreabizwire.com)
