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[October 09, 2012]
DOCOMO and KT Aim to Develop Mobile NFC-based Cross-border E-money Service
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 09 October 2012 Release date- 09102012 - TOKYO, JAPAN - NTT DOCOMO, INC., Japan's leading mobile operator and provider of integrated services centered on mobility, and KT Corporation, South Korea's leading telecom operator, have agreed to develop a cross-border e-money service that would enable DOCOMO customers with compatible smartphones purchased in Japan to use a prepaid e-money service called 'Cashbee' in South Korea.
DOCOMO and KT have been exploring opportunities for seamless cross-border mobile services using smartphones since February 2011. Efforts have focused on developing common specifications for mutual devices, networks and billing platforms, working through a joint Business & Technology Cooperation Committee that they established in 2005. The new service would be a practical commercial outcome of this initiative.
The agreement was reached together with eB Card, a LOTTE affiliated South Korean prepaid e-money service provider that developed Cashbee in August 2010. Cashbee is available at some 52,000 locations in LOTTE Group department stores, convenience stores and mass transportation facilities such as subways and buses. The service currently has 5 million users.
DOCOMO and KT will jointly deploy a new system to enable this and other cross-border NFC services between their two countries by the end of the first half of fiscal 2013 ending in March 2014. Going forward, they will consider the deployment of other NFC-based cross-border services, such as mobile payments, promotional coupons and mass-transit ticketing.
Toshiki Nakayama, Senior Vice President and Managing Director of DOCOMO's Frontier Services Department, said: 'DOCOMO is excited about creating a cross-border environment that enables Osaifu-Keitai (mobile phones with wallet functions) services both in Japan and abroad. Going forward, we will partner with international operators and service providers to drive the development of mobile- payment businesses for increasingly enhanced mobile experiences on a global scale.' Kook-hyun Kang, Senior Vice President of KT's Product Business Unit, said: 'The need for cross-border services for smartphones continues to grow as more and more people travel abroad. KT looks forward to develop highly useful international NFC services that offer greater convenience to customers traveling overseas.' DOCOMO and KT plan to share the results of their commercial endeavor with global associations and standardization bodies, aiming to promote the realization of a commercial environment for globally compatible NFC services.
About NTT DOCOMO NTT DOCOMO is a world-leading integrated-services company centered on mobility. The company serves over 60 million mobile customers in Japan via advanced wireless networks, including a nationwide 3G network and one of the world's first commercial LTE networks. Leveraging its unique capabilities as a mobile operator, DOCOMO is a leading developer of cutting-edge technologies for NFC mobile payments, mobile GPS, mobile TV, intuitive mobile assistance, environmental monitoring, smart grids and much more. Overseas, the company provides technical and operational expertise to eight mobile operators and other partner companies. NTT DOCOMO is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. Please visit www.nttdocomo.com for more information.
About KT KT is a leading mobile ICT company in Korea providing a range of communication services including wire, wireless phone services, high-speed internet services, voice-over Internet protocol (VoIP), Internet protocol television (IPTV), and wireless broadband (WiBro) services. KT has successfully pursued new growth opportunities and obtained strong market positions in each of our principal lines of business in particular such as nationwide LTE services, mobile payment and credit card services, mobile GPS, satellite service, cloud computing services, smart grid, and smart city development.
'Osaifu-Keitai' is a trademark of NTT DOCOMO, INC.
NTT DOCOMO's 'Osaifu-Keitai' is only available to subscribers in Japan.
All listed product names are registered or unregistered trademarks of their respective owners.
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