Hana Card Co. and South Korea-based telecommunication operator SK Telecom Co. plan to launch a mobile credit card payment service in March under a new joint venture, an official from the credit card company tells PaymentsSource.
According to the official, the joint venture, called Hana SK Card Co., will take over the card-issuance duties of from Hana Card, the South Korea-based credit card unit of Hana Financial Group.
The new mobile credit service will enable users to make payments with mobile phones and download information on deals and store coupons from Korea-based discount retailer Home Plus, the official adds. “However, I cannot disclose specific details of the service just yet,” he says.
In a statement issued Feb. 25 at the launch ceremony for the venture, Hana Card CEO Lee Kang-tae said the new venture’s goal is to attract 400,000 to 500,000 new customers for mobile credit cards this year.
In December, Hana Card inked a strategic deal by selling a 49% stake of the company to SK Telecom for 400 billion won (US$350 million).