SRA joins venture to develop Mobile Payment service

Korea’s Sian Holdings and Sara Vietnam Joint Stock Co (HNX listed SRA) on June 4 signed a joint venture cooperation deal to invest and develop “Mobile payment” service in Vietnam with total investment capital of $2 million.

Mobile payment is a new payment method. Instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard goods such as:

* Music, videos, ring tones, online game subscription or items, wallpapers and other digital goods.

* Transportation fare (bus, subway or train), parking meters and other services

* Books, magazines, tickets and other hard goods.

There are four primary models for mobile payments:

* Premium SMS based transactional payments

* Direct Mobile Billing

* Mobile web payments (WAP)

* Contact less NFC (Near Field Communication)

Representative of SARA Vietnam, Tran Khac Hung expected a long term vision for the developing the important cooperation in Mobile payment and confirmed the success in future thanks to advantages of two parties.

The project will be started from Q3 of 2010.

Through the event, SARA Vietnam and Sian Holdings will become each other’s strategic partners.

Vietstock

Tags: Mobile Payment service, Sian Holdings and Sara Vietnam, Vietnam Telecom