SEOUL, Sept. 24 (Korea Bizwire) — South Korean location-based coupon application provider YAP Company on Thursday launched a new app that provides Chinese tourists with various tourism-related information, including shopping and transportation. The app, dubbed KAYO, provides a selection of coupons and other information for 100,000 local shops at popular tourist destinations, including Seoul’s major shopping [...]
SEOUL, July 7 (Korea Bizwire) – Samsung Pay, the proprietary mobile payment service developed by Samsung Electronics, will be introduced in its home market soon as a beta service. Samsung Card announced on July 6 that it would recruit beta testers for Samsung Pay until July 10. The beta testers will experience the Samsung Pay service [...]
SEJONG, May 24 (Korea Bizwire) — South Korea plans to push for financial deregulation to make it easier for people to transfer money across borders without going through banks, the government said Sunday. The move aims to allow securities firms, insurers and most importantly FinTech companies to handle transfers that can help lower fees and [...]
SEOUL, Oct. 25 (Korea Bizwire) – An increasing number of global companies try to jump on the “Fintech” bandwagon. Fintech, a compound word between finance and technology, encompasses services such as mobile payment, mobile money transfer, crowd funding and the like. Investment volume on fintech skyrocketed by three-folds only in five years. According to management [...]
SEOUL, Oct. 8 (Korea Bizwire) – Recently the so-called “fintech” has been in vogue. A compound word between finance and technology, fintech encompasses services such as mobile payment, mobile money transfer, crowd funding, and the like. The main reason the word fintech has become more familiar with us is services like KakaoPay by Kakao Inc. and [...]
SEOUL, Aug. 31 (Korea Bizwire) – It was reported that e-commerce transactions is possible only by typing in one’s username and password as early as late September or as late as early October, as currently available with two e-commerce platform providers: PayPal, an international e-commerce business allowing Internet payments and money transfers, and Alipay, a [...]
SEOUL, Aug. 2 (Korea Bizwire) – While Kakao is scheduled to offer an online credit card payment service next month, it is considering an “Uber-like” call taxi service as well. From September, Kakao, the operator of Korea’s largest mobile messenger service, will begin providing credit card online payment service in partnership with nine card companies including [...]
SEOUL, July 19 (Korea Bizwire) – Alipay, the e-payment arm of China’s e-commerce giant Alibaba, wants to make inroads in South Korean market — a move to create a seismic change across South Korea’s online payment service industry, according to local sources and reports. China’s leading e-payment brand held a seminar on July 18 to [...]
SEOUL, June 21 (Korea Bizwire) – Thanks to the Korea Wave, foreign consumers’ interests in Korean goods are hotter now than any other time. Responding to the trend, the market size of direct sales of Korean goods to overseas consumers through domestic Internet shopping sites is estimated at 200 billion won. Then, who will be [...]
SEOUL, May 21 (Korea Bizwire) – Amid growing purchasing influence of Chinese tourists in the Korean market, the transaction systems of online shopping malls are becoming more and more Chinese-friendly. Lotte.com, Korea’s online shopping mall, announced on May 20 that it has developed a payment system for Chinese customers in cooperation with “Alipay,” a Chinese [...]