SEOUL, Apr. 26 (Korea Bizwire) – A groundbreaking new labeling technology that prevents forgery and counterfeiting by engraving information instead of using adhesive stickers has been developed by a team of researchers in South Korea, according to an announcement by the Ministry of Science and ICT. The research, led by professor Rho Junsuk of the Pohang [...]
SEOUL, Mar. 11 (Korea Bizwire) — Smartphone users have been increasingly expanding their use of mobile cash cards on the back of more diversified access to banking services, the central bank said Monday. According to the Bank of Korea, the daily use of mobile cash cards for deposits and withdrawals averaged 536 cases through February [...]
SEOUL, Jan. 26 (Korea Bizwire) — Hyundai Card is drawing attention for its innovative use of Non-Fungible Token (NFT) tickets to preemptively block scalping at the upcoming Jang Beom-June concert sponsored by the card company. The concert is scheduled to take place next month at Understage in Hannam-dong, Yongsan-gu, Seoul. Announced by Hyundai Card on January [...]
SEOUL, Jan. 11 (Korea Bizwire) – KakaoPay, South Korea’s popular payment platform, has witnessed an astonishing 14-fold increase in transactions made by foreign tourists within a year. This surge is attributed to the rise in international visitors in the post-COVID era and the expansion of KakaoPay-affiliated merchants linked to foreign fintech (payment) services. According to the [...]
SEOUL, July 20 (Korea Bizwire) — Samsung Electronics Co. announced on Wednesday that it has decided not to charge commissions for its digital payment service Samsung Pay, and will renew contracts with local credit card companies. Since its launch in South Korea in 2015, Samsung Pay has continued to renew operational contracts with card firms. [...]
SEOUL, July 4 (Korea Bizwire) — South Korean credit card companies are expressing concerns about the potential cost burden as Samsung Electronics Co. considers turning its mobile payment service into a paid offering and implementing commissions on them. According to industry sources, Samsung is currently in talks with card issuers as its contracts with the [...]
SEOUL, June 29 (Korea Bizwire) — Apple Inc.’s mobile payment service, Apple Pay, has processed 25.8 million transactions within just 100 days of its launch in South Korea. According to Hyundai Card Co., payments with Apple Pay have been made at 108,000 stores across the country since the service was introduced in March. Apple, which [...]
SEOUL, June 15 (Korea Bizwire) — South Korea’s top Internet portal operator Naver Corp., partnered with Samsung Electronics Co. in March to prepare for the official launch of Apple Inc.’s mobile payment service Apple Pay in the country, and this strategic move has yielded positive results, a local data tracker said Wednesday. Naver Pay, Naver’s [...]
SEOUL, June 7 (Korea Bizwire) — Hacker groups specializing in initial compromise during the process of ransomware distribution are rampant this year. Sales activity of “initial access brokers,” who sell cybercriminals access to corporate networks, has more than doubled compared to the same period last year, industry sources said Tuesday. These brokers gain access to [...]
SEOUL, April 6 (Korea Bizwire) — Samsung Electronics Co. has been emphasizing the versatility of its mobile payment service, Samsung Pay, in its efforts to keep Apple Pay in check as the latter recently entered the South Korean market. “Samsung Pay was a groundbreaking change that enabled consumers to pay without having to separately subscribe [...]