SEOUL, Feb. 3 (Korea Bizwire) — South Korea’s financial regulator said Friday that local credit card firms can introduce Apple Pay, the long-awaited mobile payment service of U.S. tech giant Apple Inc., as they have followed relevant procedures. There have been reports for months that Hyundai Card Co., a local credit card unit of Hyundai [...]
SEOUL, Nov. 21 (Korea Bizwire) — As Apple Pay will likely land in South Korea later this month, the long-awaited arrival of the U.S. tech giant’s mobile payment service is drawing mixed views on the industrial landscape of the local mobile payment market dominated by Samsung Pay provided by Samsung Electronics Co. According to industry [...]
SEOUL, Nov. 16 (Korea Bizwire) — South Korea’s online payment service providers are setting up near-field communication (NFC) devices and other services as Apple Pay, Apple Inc.’s mobile payment service, is expected to be introduced in South Korea later this month. NHN KCP Co. recently posted “Apple Pay Accepted” on its website before taking it down soon [...]
SEOUL, Sept. 7 (Korea Bizwire) — Hyundai Card Co. is in talks with Apple Inc. to introduce the U.S. tech giant’s mobile payment service to South Korean card users, industry sources said Wednesday. Hyundai Card is nearing a one-year exclusive contract to provide the Apple Pay service in South Korea, they said. If the contract [...]
SEOUL, Aug. 18 (Korea Bizwire) – South Korea’s top tech giant Samsung Electronics said Tuesday the country’s 10 credit card companies have agreed to support its new mobile payment system whose launch is slated for later this week. The Samsung Pay service, scheduled to debut on Thursday in South Korea, supports not only the near field [...]
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 [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korea’s tech giant Samsung Electronics said Thursday that it has bought U.S. mobile technology firm LoopPay, a move apparently aimed at making inroads into the mobile payment technology market against its rival Apple. “Samsung has made efforts to provide safe and convenient mobile payment service,” said Shin Jong-kyun who [...]
SEOUL, Jan. 5 (Korea Bizwire) – The ubiquitous use of ‘plastic’ among consumers will set a milestone in credit card payment volumes this year. According to KB Financial Group, Korean credit card spending is on pace to exceed 700 trillion won (US$634 billion) in 2015, for the first time ever since 1967 when the first [...]
SEOUL, Oct. 22 (Korea Bizwire) – Apple Inc. is looking into the possibility of moving in to Korea’s electronic payment market, according to sources and reports knowledgeable on the issue. In a situation where the entry barriers to electronic payment market have been lowered substantially after the abolition of the mandatory public key authentication scheme and [...]
SEOUL, Oct 21 (Korea Bizwire) – MasterCard seems to take full advantage of surging interest surrounding Apple Pay, the tech giant’s newly launched NFC-driven easy-to-use contactless payments system. MasterCard said on October 20 that the contactless payment experience will be available at the 2014 World Series through a partnership with mobile technology leader MLB Advanced [...]