Mobile Financial Services Alliance

Japan’s NTT DoCoMo and Korea’s SK Telecom, South Korea’s biggest mobile-phone operator, agreed to cooperate in providing financial services because of the business growth potential, said Chai Young Hoon, a spokesman for SK Telecom, confirming an earlier Electronic Times report. Preliminary meetings are scheduled for this month and November, he said.

Chai declined to provide further details such as how much revenue the business is likely to generate, saying the plan is in its initial phase. The agreement marks the first partnership among the world’s biggest mobile-phone operators in the field of financial services and may lead to the development of an international standard, according to the Electronic Times.

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