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Press Release
Three Korean Mobile Phone Service Providers Conduct Joint Promotions in Order to Boost the ’Cellular Small Amount Payment Service’ Market.
2003.09.29 PrintThe size of the Cellular Small Amount Payment Service market will reach 500 billion won this year. This is a dramatic rise from 200 billion won in the year 2002.
The 3 companies will promote this service in the marketplace through sustained co-marketing activities, rather than through excessive competition.
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Three mobile phone service providers, Cellular Small Amount Payment service agencies, and Internet sites conduct joint promotions in order to boost the `Cellular Small Amount Payment Service` market.
SK Telecom, KTF, and LG Telecom, agreed to conduct a joint promotion to boost the Cellular Small Amount Payment Service market. The promotion events will take place on 13 major Internet sites, beginning on the 1st of October. In these events, 5 major Cellular Small Amount Payment service agencies, such as Danal, Mobiliance, and Infohub, and 13 major Internet site operators such as NC Soft (Rigini Game Provider), NHN(Han Game Provider), and Daum, will also participate.
The Cellular Small Amount Payment Service lets customers make payments via their cellular phones by inputting their cellular number and authentication number, to the Internet sites. This procedure applies when they purchase goods via the Internet, or use pay content services on the Internet. The amount paid through the Small Amount Payment Service is added to the cellular service bill, and sent to the customer the following month.
Unlike credit cards, this service can prevent any possible outflow of personal financial information, while customers are making payments on the Internet. Due to this security and convenience, the Cellular Small Amount Payment Service is growing rapidly in the marketplace.
When customers make small payments via their cellular phones on such Internet sites as Daum, Naver, Hangame, Rigini, and Netmarvel among others, each site will offer a variety of benefits such as discounts on flat rate, additional service use coupons, content premiums, etc. to the customer. Furthermore, they will carry out cash Back events that grant 1 million won, or 500 thousand won in cash, by drawing lots among the customers who make small payments via their cellular phones during October.
The 3 Mobile Phone Service Providers forecast that the size of Cellular Small Amount Payment Service market will reach 500 billion won this year. This is far above the 200 billion won accomplished in 2002. A spokesman for the three companies stated, "We will promote this service in the marketplace through continued co-marketing activities, rather than through excessive competition".
The Cellular Small Amount Payment Service lets customers make payments via their cellular phones by inputting their cellular number and authentication number, to the Internet sites. This procedure applies when they purchase goods via the Internet, or use pay content services on the Internet. The amount paid through the Small Amount Payment Service is added to the cellular service bill, and sent to the customer the following month.
Unlike credit cards, this service can prevent any possible outflow of personal financial information, while customers are making payments on the Internet. Due to this security and convenience, the Cellular Small Amount Payment Service is growing rapidly in the marketplace.
When customers make small payments via their cellular phones on such Internet sites as Daum, Naver, Hangame, Rigini, and Netmarvel among others, each site will offer a variety of benefits such as discounts on flat rate, additional service use coupons, content premiums, etc. to the customer. Furthermore, they will carry out cash Back events that grant 1 million won, or 500 thousand won in cash, by drawing lots among the customers who make small payments via their cellular phones during October.
The 3 Mobile Phone Service Providers forecast that the size of Cellular Small Amount Payment Service market will reach 500 billion won this year. This is far above the 200 billion won accomplished in 2002. A spokesman for the three companies stated, "We will promote this service in the marketplace through continued co-marketing activities, rather than through excessive competition".