Nippon Telegram and Telephone (NTT) has developed a 'voucher trading service platform' for online and offline shopping using mobile phones or chip cards.
The Platform establishes an electronic medium for the sale and storage of tickets, coupons and cards that can be exchanged for goods and services in both bricks and mortar locations and over the Internet. It utilises public key encryption to secure communications and uses infrared technology to convert traditional payment cards and mobile devices into contactless point and pay applications.
As part of this, NTT has developed an 'IC card booster' that enables the use of contact payment cards at contactless locations and provides an LCD screen for displaying transaction and balance information.
In a statement, NTT says the voucher trading service platform will change existing trading functions for physical merchandise into the trading of "assets" by providing a platform that enables digitalisaed "rights" and "values" to be circulated between companies and individuals. "It will revolutionise the existing supply chains," says the firm.
The company is currently working with businesses to introduce the service commercially.