Exemplary Service of Mobile Phone Operating as Credit Card

SK Telecom announced on the 11th that it launches exemplary service of `Mobile One Chip` that one can use mobile phone with a smart card chip, which is carrying private information and financial information, as a credit card.

Using this service, one can use mobile phone as a credit card and electronic money as well as membership cards like OK Cashback and TTL. For settlement, business information is sent by air to settling apparatus. For using the service, it requires an exclusive equipment attached with a smart card chip at the side of battery.

SK Telecom will commercialize One Chip Service from the second half of this year objecting users of 5 major credit cards including Samsung, LG, Foreign Exchange, Hanmi, and Hana.

Kim freewill@donga.com