Park Ji-won is a writer for The Korea Times who has been covering a wide range of topics from Korea’s culture to its politics. An avid journalism enthusiast to the core, Ji-won brings a thoughtful and unique perspective to every topic she covers. On weekends, you'll often find her contemplating life’s purpose on a yoga mat — with a cup of quality tea in hand. A native Korean speaker by birth and fluent in English through her work, she went to college in Japan and is learning Chinese and French — hoping to add Polish, Russian and Thai to the mix.
'Smart Wallet' users top 10 mil., says SK
SK Planet said Thursday that users of its popular “Smart Wallet” app have topped 10 million in June, three years after its launch. / Courtesy of SK Planet
By Park Ji-won
By Park Ji-won
Users of SK Planet’s Smart Wallet application reached 10 million in June, three years after its launch. SK Planet is the platform service affiliate of the nation’s leading telecommunications firm, SK Telecom.
Smart Wallet is an app that gathers and stores credit and membership card information in a smartphone. With the app, a person can use a credit or membership card through the barcode that stores the information, without bringing the credit or membership card itself. The app was launched on June 2010, aiming to provide a new payment method that’s convenient for both customers and companies.
“The Smart Wallet has helped me become a smarter shopper. I don’t need to bring all those cards, which make my wallet heavy and ugly,” said a 26-year-old office worker in Insadong. “By using it, I feel I don’t miss a penny of the benefits that firms provide. It is so convenient,” he added.
“As the 10-million-user mark shows, Smart Wallet has emerged as a new marketing tool for companies, as well as a convenient application for customers. The number of users means a lot to us; it gives us direction in improving the mobile wallet platform,” said Smart Wallet Vice President Hong Sung-min in a statement.
“SK Planet knew of the application’s marketability even before the launch, enabling us to develop various services for customers in partnership with other companies,” he added. Hong said the company’s strategy of focusing on customers and co-development with other companies has led to its success.
Android and iOS phone users can use the application regardless of their telecommunications service provider.
The company said it puts customer convenience as a top priority when deciding business strategies. It has partnered with more than 220 leading membership programs in the food, entertainment and shopping sectors, including OK Cashbag, CJ ONE, GS&POINT and Korean Air.
The firm is continuously adding new functions to the app to make it even easier and more convenient for customers. For example, it has added a discount coupon function similar to those of social commerce service providers such as Ticket Monster, informing its users of discount benefits or events.
Firms can join the Smart Wallet program by passing a simple membership screening procedure with SK Planet.
“Firms in other countries can use the platform to advertise their products through the application. It has limitless potential,” said company spokeswoman Lee Ho-yeon.
“We are planning to introduce a mobile-based payment service called Paypin. It is a mobile payment platform in which customers use a credit card by simply entering a pin code on their smartphone. Once it is introduced, it could cover all mobile payment systems, which is an industry first,” she said.
Smart Wallet will celebrate the 10-million-user mark by giving away 400 million won ($354,641) in prizes to those who install the application or own a Today’s Card, which is a lottery ticket for gifts. The winners will be announced on the company’s website, www.smartwallet.co.kr/event/event.html.