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A mobile banking remittance service will be introduced to the public starting November, which will allow users to send money by entering the receiver's cell phone number, even if one does not know the receiver's bank account number.
Korea Financial Telecommunications & Clearings Institute announced Monday that test service of the Ubiquitous Banking Interface (UBI) that allows people to send money, pay fines to the National Police Agency and get financial information using mobile phones and PDAs had begun from August 5.
The institute plans to introduce the UBI service this coming November after observing the results of the test service. An official of the institute said, "People tend to not notify his or her bank account number to others and this is the reason behind the invention of the UBI service."
(Lee Ji-hoon, jhl@chosun.com )
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