e-Payment JV in Thailand

Head office of CAT Telecom in Phuket, Thailand
Head office of CAT Telecom in Phuket, Thailand

 

SK Telecom is forming a joint venture with Thailand’s state-owned CAT Telecom to provide e-payment gateway services to the rapidly-growing online business sector in Thailand.

The new company called Tree Pay Co. will be established with an initial capital of 200 million baht (US$5.7 million), of which 51 percent shares will be held by the Korea’s largest telecommunications company and the rest 49 percent by the Thai public firm, according to a local media in Thailand.

An official at SKT’s head office in Seoul corrected the articles by saying, “Some content of the articles reported by local media are not true. SK Telecom will have less shares than the Thai partner for the joint venture, which will begin to provide services from autumn this year.”

The online payment joint venture aims at serving both the public and private sectors including large businesses as well as the small-and medium-sized enterprises.

The Thai public company CAT runs the country’s international telecom infrastructure, including for satellite and submarine cable networks connections. 

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