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Press Release
The Mobile T-money service is designed to let subscribers issue and use a T-money traffic pass through a 3rd generation mobile phone with a built-in USIM card.
SK Telecom will add more advanced financial service functions, such as mobile banking, credit card use and stock trading, to the USIM card through the development of convergent technologies.
At this time SK Telecom subscribers can conveniently issue and recharge a traffic pass on their own, via their third generation mobile phones.
On February 27 SK Telecom announced the launching of the “Mobile T-money” service that is designed to let subscribers issue and use a “T-money traffic pass" through their mobile phones. To make this service possible, ’Over-The-Air’ (OTA) technology was applied to WCDMA/HSDPA handsets with a built-in universal subscriber identity module (USIM) card. To this end, SK Telecom established a strategic partnership with Korea Smart Card (President: Jeong Geun Kim, www.t-money.co.kr).
In this case, subscribers do not have to visit shops physically to purchase the “T-money” traffic pass. They can issue the card wirelessly via their mobile phone, anytime they choose.
“Mobile T-money” is not only used for the payment of public transportation, but it is also used in convenience stores, large bookstores, online shopping malls, PC game rooms and movie theaters in Seoul, Incheon and Kyunggi Province. The service regions and coverage will continue to be expanded in the future. T-money can be recharged in conventional “T-money” charging stations located in convenience stores and subway stations. A T-money bank account charging service via the wireless Internet will be introduced as well.
The T-money Traffic Pass Service will be available through an LG SH-110 handset model and 3G handsets, which will be released later this year. Subscribers can use the service after issuing the Mobile T-money card by pressing the “M” button on a T- money capable mobile phone. The information service fee for issuing the card will be waived for one month from the service launch, and then the fee will be fixed at an affordable price which is more economical than the purchasing price (basic card-KRW2,500) of a conventional T-money card.
The USIM card installed in third generation WCDMA and HSDPA mobile phones serves as a key to manage and authenticate subscribers. It will be widely used in a variety of areas as the mobile phones’ storage capacity increases, and convergence technologies are improved.
Mobile T-money is the world’s first financial transaction service offered through a mobile phone with a built-in USIM card. Subscribers are able to download and use the service through the wireless Internet. "SK Telecom will add more advanced financial service functions such as mobile banking, credit card and stock trading to the card, through convergence technologies.” said Ju Sik Lee, senior vice-president and head of SK Telecom’s New Business Development Group 1.
On February 27 SK Telecom announced the launching of the “Mobile T-money” service that is designed to let subscribers issue and use a “T-money traffic pass" through their mobile phones. To make this service possible, ’Over-The-Air’ (OTA) technology was applied to WCDMA/HSDPA handsets with a built-in universal subscriber identity module (USIM) card. To this end, SK Telecom established a strategic partnership with Korea Smart Card (President: Jeong Geun Kim, www.t-money.co.kr).
In this case, subscribers do not have to visit shops physically to purchase the “T-money” traffic pass. They can issue the card wirelessly via their mobile phone, anytime they choose.
“Mobile T-money” is not only used for the payment of public transportation, but it is also used in convenience stores, large bookstores, online shopping malls, PC game rooms and movie theaters in Seoul, Incheon and Kyunggi Province. The service regions and coverage will continue to be expanded in the future. T-money can be recharged in conventional “T-money” charging stations located in convenience stores and subway stations. A T-money bank account charging service via the wireless Internet will be introduced as well.
The T-money Traffic Pass Service will be available through an LG SH-110 handset model and 3G handsets, which will be released later this year. Subscribers can use the service after issuing the Mobile T-money card by pressing the “M” button on a T- money capable mobile phone. The information service fee for issuing the card will be waived for one month from the service launch, and then the fee will be fixed at an affordable price which is more economical than the purchasing price (basic card-KRW2,500) of a conventional T-money card.
The USIM card installed in third generation WCDMA and HSDPA mobile phones serves as a key to manage and authenticate subscribers. It will be widely used in a variety of areas as the mobile phones’ storage capacity increases, and convergence technologies are improved.
Mobile T-money is the world’s first financial transaction service offered through a mobile phone with a built-in USIM card. Subscribers are able to download and use the service through the wireless Internet. "SK Telecom will add more advanced financial service functions such as mobile banking, credit card and stock trading to the card, through convergence technologies.” said Ju Sik Lee, senior vice-president and head of SK Telecom’s New Business Development Group 1.