Mobile banking is about to be redesigned over in Korea. The sub-committee on Financial Digitization of the Bank of Korea has decided to use the Universal Subscriber Identity Modules or USIMs at CD and ATM networks across the country. The service might be available this November although there aren’t clear instructions on how it will work.

USIMs inserted in mobile phones will let users download the service program. Mobile transactions will be subsequently done by placing the handsets close to sensors in CD and ATMs. That means that a thief will probably take your phone too along with all the money. And speaking of thieves, be careful with your phone. Don’t misplace it as it will contain vital information.