Korea-Japan mobile payment cooperation signed
20 Jul 2010:
SK Telecom has signed a Memorandum of Understanding (MOU) with Japanese mobile operators KDDI Corporation and SOFTBANK MOBILE Corp. on a Korea-Japan mobile payment cooperation.
The cooperation will pave the way for an interoperable and contactless payment environment for mobile phone users of Korea and Japan, allowing customers to enjoy easy and convenient payment and services such as coupon benefits, without the need of renting and changing phones when visiting the two countries.
Besides the contactless payment solutions currently in use in Japan and Korea, Combi Card, the signing companies have confirmed their intent to cooperate on developing a new type of integrated mobile card and coupon solution based on Near Field Communication (NFC) technologies, allowing for interoperability in both countries.
The singing companies will offer a new mobile NFC solution that is operable on handsets embedded with a NFC card and RFID function. When the NFC-based payment system roll-out is complete, NFC phone users in Korea and Japan will be able to make mobile transactions after downloading a mobile payment application to their phones. Mobile coupons, membership discounts and mobile gift vouchers, which are already in use in Korean and Japanese markets, will also be available via NFC handsets.
Hong Sung Chul, executive vice president and head of service division of SK Telecom, said: “It is encouraging that mobile carriers of Korea and Japan have joined hands to promote mobile payment business. We hope this cooperation can become a strong springboard for boosting the overseas growth of SK Telecom’s comprehensive mobile payment service, T smart Pay, starting with the Japanese market.”
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