True offers payments via mobile phone

Database News - Wednesday December 12, 2007

M-COMMERCE

True offers payments via mobile phone

SASIWIMON BOONRUANG

TrueMoney recently introduced RFID SIM, described as an intelligent contactless mobile payment service, for customers of TrueMove.

The applications used in RFID SIM were recently demonstrated at ICT Expo 2007 and allowed the mobile phone to be used for payments for things such as online shopping, car parking and public transport.

Adhiruth Thothaveesansuk, president of True Money, noted that the company had collaborated with Chinese-based Watchdata, a data security technology company, to successfully develop what he called "the world's first intelligent contactless mobile payment" system using the RFID SIM via the True Money Payment Platform.

"Mobile phone subscribers can use the phone with the RFID SIM the same as they use their present SIM card. The SIM also allows them to refill money on the SIM Wallet from their TrueMoney account in any desired amount via an application called Auto Refill," Adhiruth said.

To secure the service, the system uses Last Transaction Check and TrueMoney Security System to provide "triple security protection."

Currently, TrueMoney has teamed up with Tsutaya (Thailand), Electronics Payment Network (EPay) and Advanced Agro to offer the service, as well as its own TrueMoney Express.

The company expects that by the end this year, there will be around three million users of TrueMoney, from a claimed 2.5 million today.

The RFID SIM is also expected to be patented.

Bangkok Post