SK C&C Introduces TSM Services in Europe

Korea-based IT company SK C&C will commercially launch its Trusted Service Manager (TSM) services for Near Field Communication (NFC) mobile payments in Europe this year.

SK C&C announced on October 1 that it forged a strategic partnership with Wirecard AG, a global financial services and technology company in Germany, in order to increase its shares in the NFC mobile payments market in Europe.

Through the partnership both companies plan to commercialize TSM services for NFC-based mobile payments within the year, and to expand the mobile commerce business in Europe for financial institutions, mobile carriers, and service companies. 

With this business alliance, Wirecard’s products and services will be integrated with the Mobile Payment Service Application Program Interface (MPSA) of CorFire, the mobile commerce business of SK C&C US. MPSA is an NFC API that allows mobile apps to support NFC services such as Visa payWave.

In addition, Wirecard is planning to provide its stored value account products for Visa and MasterCard, together with additional services for NFC mobile payments such as vouchering and royalty programs. It will do this by launching its own TSM based on CorTSM, which is SK C&C's TSM solution. 

SK C&C, on the other hand, intends to make full-scale expansion into the Service Provider-TSM solution market for NFC mobile payments by targeting local companies in Europe using Wirecard’s network.

The Korean company anticipates that it will be in an advantageous position to expand mobile commerce-related services in the European market. Wirecard is the key partner of global credit card companies such as Visa and MasterCard and of large European mobile carriers such as Vodafone and Deutsche Telekom. 

The German-based company offers end-to-end services related to online payments for corporate clients in 70 countries, including mobile and online payment services, credit card issuing services, and call center outsourcing.