Lordsystem sets out to conquer mobile passports and streamline tax-free shopping
All hail Lordsystem, a South Korean startup carving out significant territory for itself in the mobile passport and biometric travel authentication sector. A recent profile by Korea Tech Desk says the company, which is based in Seoul, is filling a gap in the travel industry’s digitization by streamlining the duty free shopping experience with its Trip.PASS platform. The duty free platform and mobile passport build on the company’s government-approved “Mobile Passport Identity Verification Service.”
According to Lordsystem’s CEO, Jang Yang-ho, “the mobile passport concept was born from a desire to enhance travelers’ convenience and security, particularly in the realm of tax-free shopping. Our mobile passport represents a comprehensive solution that seamlessly connects travelers with the Korea Customs Service, simplifying the shopping experience.” The system uses distributed digital identification (DID) technology to digitize and securely authenticate passport info which travelers can access with a smartphone QR code. The individual is bound to their mobile passport with FIDO-based biometric authentication.
Lotte Duty Free partnership anchors global expansion plans
Lordsystem’s clientele includes Lotte Duty Free, with which it partnered to launch a mobile passport app for duty free shopping this past June. According to Korea Tech Desk, the digital ID app amassed more than 10,000 users within a month, and continues to show an average daily growth rate of 270 new users.
Lotte Duty Free is active across Asia-Pacific, operating shops in Japan, Vietnam, Thailand, the Philippines, and Australia. Its intention is to use Lord System’s mobile passport technology to link its network under a “ONE-ID PASS” digital ecosystem for global travelers. Lordsystem, meanwhile, is looking to diversify both its target sectors and range of international clients, exploring domestic deployments in casinos and regulatory sandboxes, and developing proofs of concept for simple payment services in Japan and across Southeast Asia. The company partnered with Liquid Group earlier this year to develop a proof of concept for its cross-border payment service.
Says CEO Jang, who showcased Lordsystem’s offerings at the recent Japan Tourism Expo in Osaka, “we are actively engaged in PoC initiatives related to simple payments and tax-free with Japanese companies.” Lordsystem will hold court at the International IT and Consumer Electronics Show (CES) in 2024, to showcase further developments in its casino-facing plans.