Mobile card market riding on smartphone boom

South Korea's mobile card market is growing at a rapid clip as an increasing number of consumers are using their smartphones for making payments, industry data showed Thursday. A mobile card refers to a credit card built into a mobile phone enabling the user to pay for goods and services. To use mobile cards, a special chip, dubbed near field communication (NFC), needs to be installed in a handset. Seoul - Yonhap South Korea's mobile card market is growing at a rapid clip as an increasing number of consumers are using their smartphones for making payments, industry data showed Thursday. A mobile card refers to a credit card built into a mobile phone enabling the user to pay for goods and services. To use mobile cards, a special chip, dubbed near field communication (NFC), needs to be installed in a handset.