A method and electronic device implementing the same are disclosed herein. The electronic device includes a first communication module, a second communication module, a memory, and at least one processor operatively coupled to the memory. The at least one processor implements the method, including: receiving, via a first communication module, an initial setting request message from an external electronic device through a first communication channel, receiving, via a second communication module security key information from the external electronic device through a second communication channel; and transmitting subscription information for communicating with a network provider to the external electronic device, wherein the first communication channel and the second communication channel have different communication characteristics.