RealTime IT News

Keycorp to Enable Japan's M-commerce Market

Australian electronic commerce and smartcard company Keycorp will provide the Japanese telecommunications industry with its proprietary m-commerce solution in a deal worth AUS$50 million.

Network Associates Asia Pacific (NAAP), a Japanese telecommunications payment solutions provider, will market Keycorp's K78 Advanced Mobile Payment terminal to Japan's leading telecommunications providers, NTT DoCoMo and KDDI network.

The K78 is a hand-held wireless terminal for point of sale transactions, combining an EFTPOS unit, a mobile phone, and a printer in what Keycorp claims is the world's smallest fully integrated mobile EFTPOS unit.

The K78 uses smartcard technology and incorporates magnetic stripe card readers and a secure PIN pad. The solution can be used for the full range of electronic payments including credit, debit, and smartcard-based stored value.

NAAP are targeting a range of solution providers which serve large corporate companies and small retail merchants as part of this roll-out.

Michael Thomes, Keycorp's chief executive officer said the confirmed roll out and potential of this project was significant. "In Japan, less than ten per cent of merchants offer debit and credit facilities," he said.

"NAAP and their partners will have the opportunity to sign up thousands of merchants who will use Keycorp's K78 mobile commerce terminals," continued Thomes. "NAAP expect to continue to expand their business in the Far East."

Thomes said the win demonstrated Keycorp's ability and potential to become a significant global player marketing its technology.