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Press Release
"Nemo" works at the banks of Korea Exchange Bank, Hana, Koram Bank and Hanvit(President, Deug Hoon Lee). Soon it will expand to all banks in the nation.
Charges can be made at the real time of the transaction, free of transaction fees, and funds are withdrawn at the same time as received.
There are twenty thousand users this year, and SK Telecom anticipates increases to three million users in 2002, and seven million in 2005.
"You can buy items and transmit the money using only your simple cellular phone number and without having to remember a long complicated account number."
Anywhere and anytime, you can send the funds and make the purchase using a simple cellular phone number, and without memorizing a long complicated account number.
On November. 5, SK Telecom(www.sktelecom.com)opened the market for the e-money transaction system "NEMO" that supports the function of sending money through your cellular phone and making transactions on and off line. This service is conducted collaboratively with 4 major banks: Korea Exchange Bank(President, Keyng Lim Kim), Ha Na(President, Seung Yu kim), Koram Bank(President, Young Gu Ha) and Hanvit(President, Deug Hoon Lee).
After subscribing to the "NEMO" service, the customer puts the money in a cyber "NEMO" account. At the same time the customer can make any kind of transaction by using his own secret number through ’NATE’(Existing n-TOP)which is a new SK Telecom wired and wireless portal service.
The name of NEMO is created by abbreviating ’Net-Money’, and it is a new concept of e-money use that allows you to send money between the banks and make the merchandise transaction on, or off, line.
The NEMO service is connected to collaborating banks through NATE, so you can take money from the bank account right away. Without limitations of time and place, and with no service fee, you can conveniently make transactions using only your cellular phone.
In addition, "NEMO" has varied convenient sending functions, such as ’Multiple Sending’, that you can use to send money to various people, ’Reserved Sending’ that will send on the particular day you want, and ’Automatic Sending’ that allows funds to be sent on the same date each month. The receivers can also deposit the money to their bank accounts through ’NATE’, immediately upon receipt, by using their cellular phone.
SK Telecom plans to continuously expand the usefulness of the mobile units both on and off line. We strongly predict the mobile units will become a major factor in electronic transactions in the near future, as well as fitting into SK Telecom’s strategies for M-Commerce.
The other transaction function of "NEMO" allows users to make merchandise transactions in more than 700 online sites among the 1,000 sites presently existing for online stores. It can be used in the Du San Tower Mobile Zone for transactions in off-line stores.
This service offers a fee free sending service in the four banks previously mentioned, regardless of the frequency of sending. Presently, it allows a charge up to 50 thousand Won for each on-line transaction, and a limit on merchandise transactions of 20 thousand Korean won at the off-line stores.
To use the "NEMO" service, customers who have an account at any of the 4 banks and 011/017 service do not need to go to the bank. They simply click the no. 4 button for stocks and finance on ’NATE’ (or n-TOP) of the cellular phone, then connect to internet homepage (www.nemo.co.kr). They can also simply click the no.8 button on the entering screen. After the connection, the user puts in their personal cellular phone number and bank account number to activate the transaction.
During this year of introduction of "NEMO", SK Telecom will try to acquire 20 thousand subscribers, then three million in 2002, and seven million in 2005. In doing so, it will grow "NEMO" into a main service category.
SK Telecom will share the income from member store’s fees with the banks, making this plan a win-win situation for both parties. The company will also acquire call charges and varied fee income, and this will contribute a great part of the gross sales amount.
SK Telecom will hold a "NEMO" Launching Festival’ from Nov.25 to Dec.25, to celebrate NEMO’s Debut and will be giving away bountiful gifts and awards such as a home theater, camcorder, color cellular phone, and 30 thousand won in cash prizes every day to 14 people.
Anywhere and anytime, you can send the funds and make the purchase using a simple cellular phone number, and without memorizing a long complicated account number.
On November. 5, SK Telecom(www.sktelecom.com)opened the market for the e-money transaction system "NEMO" that supports the function of sending money through your cellular phone and making transactions on and off line. This service is conducted collaboratively with 4 major banks: Korea Exchange Bank(President, Keyng Lim Kim), Ha Na(President, Seung Yu kim), Koram Bank(President, Young Gu Ha) and Hanvit(President, Deug Hoon Lee).
After subscribing to the "NEMO" service, the customer puts the money in a cyber "NEMO" account. At the same time the customer can make any kind of transaction by using his own secret number through ’NATE’(Existing n-TOP)which is a new SK Telecom wired and wireless portal service.
The name of NEMO is created by abbreviating ’Net-Money’, and it is a new concept of e-money use that allows you to send money between the banks and make the merchandise transaction on, or off, line.
The NEMO service is connected to collaborating banks through NATE, so you can take money from the bank account right away. Without limitations of time and place, and with no service fee, you can conveniently make transactions using only your cellular phone.
In addition, "NEMO" has varied convenient sending functions, such as ’Multiple Sending’, that you can use to send money to various people, ’Reserved Sending’ that will send on the particular day you want, and ’Automatic Sending’ that allows funds to be sent on the same date each month. The receivers can also deposit the money to their bank accounts through ’NATE’, immediately upon receipt, by using their cellular phone.
SK Telecom plans to continuously expand the usefulness of the mobile units both on and off line. We strongly predict the mobile units will become a major factor in electronic transactions in the near future, as well as fitting into SK Telecom’s strategies for M-Commerce.
The other transaction function of "NEMO" allows users to make merchandise transactions in more than 700 online sites among the 1,000 sites presently existing for online stores. It can be used in the Du San Tower Mobile Zone for transactions in off-line stores.
This service offers a fee free sending service in the four banks previously mentioned, regardless of the frequency of sending. Presently, it allows a charge up to 50 thousand Won for each on-line transaction, and a limit on merchandise transactions of 20 thousand Korean won at the off-line stores.
To use the "NEMO" service, customers who have an account at any of the 4 banks and 011/017 service do not need to go to the bank. They simply click the no. 4 button for stocks and finance on ’NATE’ (or n-TOP) of the cellular phone, then connect to internet homepage (www.nemo.co.kr). They can also simply click the no.8 button on the entering screen. After the connection, the user puts in their personal cellular phone number and bank account number to activate the transaction.
During this year of introduction of "NEMO", SK Telecom will try to acquire 20 thousand subscribers, then three million in 2002, and seven million in 2005. In doing so, it will grow "NEMO" into a main service category.
SK Telecom will share the income from member store’s fees with the banks, making this plan a win-win situation for both parties. The company will also acquire call charges and varied fee income, and this will contribute a great part of the gross sales amount.
SK Telecom will hold a "NEMO" Launching Festival’ from Nov.25 to Dec.25, to celebrate NEMO’s Debut and will be giving away bountiful gifts and awards such as a home theater, camcorder, color cellular phone, and 30 thousand won in cash prizes every day to 14 people.