Korea mobile phone and communication service provider SK Telecom declared that they have targeted at the mobile payment transaction market in the Asia-Pacific region. The company develops multi mobile financial services based on radio frequency technology.
SK Telecom has provided mobile payment transaction for more than one million Combi card users. Combi card is a kind of Korea financial USIM card. USIM is short for Universal Subscriber Identity Module and it’s also called the upgraded SIM. It’s a component of UMTS 3G network.
USIM is a kind of application of UICC smart card mobile. SK Telecom also provides “T cash” service. “T cash” is launched in January, 2009. At present, more than one million mobile phone users deal with the public transport service with “T cash”. “T cash” is regarded as the first business which has gained rapid development in the Korea mobile payment field.
SK Telecom also cooperates with Hana Card to take part in other mobile payment activities including the “T Smart Pay”. It also declares that the company plans to concentrate on the developing and promoting of the NFC mobile payment. SK Telecom published it would develop a platform with Japan Telecom provider KDDI and mobile payment company Softbank Mobile.
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