First Data, SK C&C to Bring Mobile Wallet Services to the U.S. in 2011

First Data Corporation, an electronic commerce and payment processing company, and SK C&C USA, a wholly owned subsidiary of SK C&C Co. Ltd. today announced a strategic global partnership to bring trusted mobile commerce services to the U.S. and eventually worldwide.ÕSK C&C has successfully provided services such as Trusted Service Manager (TSM), a Mobile Wallet and Mobile Banking, to the South Korean market since 2002. First Data has been an industry leader in Mobile Payment, helping drive innovation in the evolving space.

Together, First Data and SK C&C will collaborate with financial institutions, retailers and mobile operators to provide innovative mobile commerce services to their customers. SK C&C will deliver a complete set of convenient and secure mobile commerce services to First Data's financial institutions and merchant customers.

Services offered by the partnership are expected to be commercially available in the first quarter of 2011 in the U.S. The SK C&C TSM platform will enable First Data's financial institutions and merchant customers to securely and efficiently issue payment cards, including credit and debit cards, prepaid and gift cards to the mobile device. SK C&C's Mobile Wallet will provide the consumer with a convenient, secure and easy to use tool to manage these payment cards, to access and manage account information and make payments.