CAT to partner Korea’s SK Telecom in e-payment service
CAT Telecom and South Korea telecom operator SK Telecom will soon announce a joint-venture deal to provide an e-payment gateway service, said Surapant Meknavin, acting president of CAT.
He declined to provide more details.
But according to a CAT executive source, the joint venture, Tree Pay Co, will offer an e-payment gateway service to cash in on the growing amount of business being done online in Thailand.
SK Telecom will hold a 51 per cent stake in the joint venture, the source said, adding that its CAT’s first joint venture with a foreign partner. The joint venture, which has registered capital of Bt200 million, is expected to be launched this quarter and generate revenue of around Bt1 billion within five years, the source said.
Tree Pay will mainly be targeted at corporate companies, government agencies and small and medium-sized enterprises.
The joint venture also aims to support the government’s policy to promote online businesses and its digital economy policy.
The total value of business generated online each year in Thailand is more than Bt10 billion and continues surging.
CAT and TOT are about to make a major transformation. Last week the State Enterprise Policy Office gave the agencies one year to complete the merger of three core businesses.
The SEPO ordered the transfer of their transmission and fibre-optics networks to become National Broadband Network Co with asset worth Bt15 billion and to turn their Internet gateway and submarine-cable networks into Neutral Gateway Network Co with assets worth Bt5 billion. Their Internet data centres will become IDC Co.
TOT and CAT are also expected to seek a partnership for their fixed broadband services.
