SK Group seeks to launch new mobile payment service


0

South Korea’s third-largest conglomerate SK Group is seeking to launch a new mobile payment service by integrating various platforms scattered across its subsidiaries into one, amid growing competition over the country’s e-commerce market.

According to industry sources here Monday, SK Group has been planning to combine the conglomerate’s two mobile payment systems — called “11Pay” and “T pay” — to create a more advanced payment platform for consumers.

SK Group’s telecommunications unit, SK Telecom, acknowledged that the conglomerate is pushing to integrate its mobile payment system scattered across subsidiaries, though the company has yet to determine which platforms will be integrated.

“In order to boost the consumers’ accessibility to the company’s mobile payment system, we are considering various options for integrating mobile payment platforms,” an official from SK Telecom told The Korea Herald.


SK Telecom has introduced a series of mobile payment systems for the company’s online shopping services. But users have often found it difficult to leverage the system beyond the services run by SK Group and its subsidiaries.

For example, 11Pay’s mobile payment has not been facilitated for use outside SK Planet’s online open market platform. T pay has typically not been as popular as Samsung Pay among consumers who want to purchase items at offline stores without credit cards.

SK Group’s integration of mobile payment systems is expected to roil the country’s e-commerce market, where Samsung Electronics and other tech giants compete to woo consumers.

Samsung Electronics has been leading the market with Samsung Pay since its introduction in 2015. The country’s internet giants — Naver and Kakao — also operate their own mobile payment services.

(jasonyeo@heraldcorp.com)

Source : koreaherald


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win

Comments

comments

Powered by Facebook Comments

Choose A Format
Story
Formatted Text with Embeds and Visuals
Video
Youtube, Vimeo or Vine Embeds
List
The Classic Internet Listicles
Open List
Submit your own item and vote up for the best submission
Countdown
The Classic Internet Countdowns
Poll
Voting to make decisions or determine opinions
Ranked List
Upvote or downvote to decide the best list item
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Meme
Upload your own images to make custom memes
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format