Processor First Data and South Korea’s SK
C&C has teamed up to bring mobile payment and banking
technologies used in South Korea to US customers.
SK C&C has provided mobile commerce
services to the South Korean market – one of the most advanced
m-payments markets in the world – since 2002.
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First Data and SK C&C will collaborate
with financial institutions, retailers and mobile operators to
provide services including mobile wallet and mobile banking to
customers.
The agreement is between First Data and SK
C&C USA, a wholly owned subsidiary of South Korea’s SK
C&C.
“With First Data’s expertise in global
electronic payments and SK C&C’s experience and success with
mobile commerce in South Korea, the two companies are uniquely
positioned to drive mobile commerce,” said Ed Labry, president of
retail and alliance services, at First Data.
The SK C&C trusted service manager
(TSM) platform will enable First Data’s financial institutions and
merchant customers to securely and efficiently issue payment cards,
including credit and debit cards, prepaid and gift cards to the
mobile device.
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By GlobalDataSK C&C’s mobile wallet allows
consumers to access and manage account information as well as
making payments.
Services offered by the partnership are
expected to be commercially available in the first quarter of 2011
in the U.S. and the alliance hope to eventually offer the services
worldwide.
