According to an embodiment, a method, performed by an electronic device, of providing a ranging-based service may include: transmitting, from a service application installed in the electronic device to a framework, information related to service data, the information related to the service data including a service deployment case and information about a storage location of the service data; when the electronic device approaches a reader device, receiving first data from the reader device; setting up a secure channel with the reader device by using information stored in a common applet identified based on the first data, the common applet being installed in a secure component of the electronic device; and transmitting the service data to the reader device, based on second data received from the reader device.