Tmoney Co., Ltd.
Tmoney was established in 2003 for a special purpose by the Seoul Metropolitan Government(SMG). The metropolitan was suffering from air pollution caused by high usage of personal car. To increase public transportation ridership and to prevent more loss of social cost, it was essential to improve public transportation services. At the end of the competition, LG CNS was selected as winner on the public bidding announced by SMG and then, established Tmoney only for this special purpose. This explains why SMG and LG CNS are our 1st and 2nd shareholders respectively. Tmoney provides reliable and sophisticated Tmoney card technology for unified fare collection system with nation-wide interoperability. It covers the integrated mass transportation network in Seoul, 15 other cities in Korea and several other cities abroad. Nowadays Tmoney is highly recognized as its brand name ‘Tmoney’.Tmoney is a prepaid card issuer, owner of AFC infra and a settlement operator. Tmoney has expanded its business operations from public transport payment system to e-money system for retails industries. Tmoney is taking a multi-lateral approach with AFC Consulting, AFC Acquiring, and AFC Product Sales so that the services we provide can cater individually to every business partner's distinct needs. Currently Tmoney’s daily transaction number is over 50 million, that is, more than 600 transactions per second is that are being processed on Tmoney’s infra. Thus, total cost Tmoney manages every day is about 19 million dollars USD. Tmoney’s unique features are a result of unified public transport networks in Seoul Metropolitan Area and Nationwide Interoperability. Also, Tmoney is leading EACOPS(East Asia Common Payment Scheme) project it’s goal of multi-national interoperability.