Published : 2013-03-20 20:26
Updated : 2013-03-20 20:26
SK C&C, one of the nation’s biggest IT service companies, on Wednesday said it secured an order to provide solutions for a mobile wallet for China Unicom Pay to pave the way into the Chinese mobile commerce market.
With the deal, SK C&C has added a Chinese business partner to its list of counterparts in the U.S. that includes Google, FDC, PayPal and the Dunkin brands.
China Unicom Pay is an affiliate of one of China’s top three mobile communications providers, China Unicom, which handles all payment procedures for the company.
Using SK C&C’s mobile wallet solutions, China Unicom Pay plans to place all of its mobile commerce operations, including credit cards, debit cards, gift vouchers and mobile money, into an exclusive mobile wallet.
SK C&C is offering NFC-based offline payment services so that users can make payments both on and offline.
The deal is significant, the Seoul-based company said, as it means access to the 1 billion or so mobile users in China.
SK C&C forecast that the Chinese mobile commerce market would grow to 120 trillion won ($108 billion) by 2015, five times more than the 21 trillion won of 2012.