COEX to Be Equipped with Electronic Payment System
Beginning March 2000, one will not need wallets, cash or even loose change when visiting the COEX (Convention and Exhibition Center) in southern Seoul.
All one will need will be a MasterCard and he or she will be set for the day.
The new and specially designed credit card, to be launched jointly by COEX and MasterCard International, is an electronic payment system that will allow everything from building access and payments to e-commerce transactions with a single slide of the card, leaving visitors free of the hassle of cash transactions.
``The system will make the trade center the first of its kind in the world and help establish COEX as a technologically advanced center for various conventions and cultural activities,'' said COEX president Ahn Jae-hak, who signed an agreement with MasterCard International Korea president Kim Keun-bae yesterday.
The first of the 337 international trade centers in 101 countries to try the incorporated system, COEX said the card will be accepted at all COEX Trade Center facilities including exhibition halls, convention centers, hotels, department stores, air terminals and the COEX Plaza.
In addition, the card will be accepted by 17 million merchants who accept MasterCard in 230 countries around the world.
COEX Multi-Card will first be issued through MasterCard member companies such as Kookmin Bank to more than 50,000 employees working for the trading companies, trade support agencies, and other businesses in the COEX Trade Center. …