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September 21, 2010updated 04 Apr 2017 4:16pm

First Data and SK C&C partner on m-payments

Processor First Data and South Koreas 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 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

By Sarah Fitzmaurice

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.

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.

SK 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.

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