mobile payment Archives | Be Korea-savvy
Daily Money Transfers via Mobile Payment Apps Exceed 200 bln Won in H1

Daily Money Transfers via Mobile Payment Apps Exceed 200 bln Won in H1

SEOUL, Oct. 17 (Korea Bizwire) — The value of daily money transfers via mobile payment apps in South Korea surpassed 200 billion won (US$168.6 million) in the first half of the year, central bank data showed Thursday, as more people used smartphones for financial services. The value of daily money transfers via smartphone apps, such [...]

Gov’t to Ease Rule on Recharging Credit at Mobile Payment Platforms

Gov’t to Ease Rule on Recharging Credit at Mobile Payment Platforms

SEOUL, Feb. 7 (Korea Bizwire) — The government plans to ease a rule on recharging credit at mobile payment platforms as it seeks to promote the financial technology sector, an official said Thursday. Currently, people in South Korea can recharge up to 2 million won (US$1,782) at a mobile payment platform, such as Kakao Pay [...]

KakaoPay Growing Exponentially

KakaoPay Growing Exponentially

SEOUL, Jan. 23 (Korea Bizwire) — KakaoPay Corp., a South Korean mobile payment platform, surpassed 20 trillion won (US$17.6 billion) in annual transactions last year for the very first time since its launch in September 2014. Transaction volume jumped by more than five times compared to the previous year (US$3.35 billion). Analysts say that KakaoPay [...]

PayByPhone Launches Parking Extension Feature for Apple Watch

PayByPhone Launches Parking Extension Feature for Apple Watch

VANCOUVER, British Columbia, Sept. 12 (Korea Bizwire) — Drivers who use PayByPhone can now extend their parking from the Apple Watch. This new feature is supported by watch OS 4.0 and above and enables drivers to park without using their phone or having to make a trip to the meter. The Apple Watch app also [...]

S. Korean Retailers Expand Partnership with Chinese Mobile Payment Platforms

S. Korean Retailers Expand Partnership with Chinese Mobile Payment Platforms

SEOUL, Aug. 30 (Korea Bizwire) — South Korean retailers are increasingly joining hands with Chinese mobile payment platforms to attract more Chinese visitors as they strive to recover from the fallout from a diplomatic row between Seoul and Beijing, industry sources said Thursday. Shinsegae DF Inc. said it has adopted UnionPay’s QR code payment system [...]

Samsung Pay Most Popular Android Payment App in S. Korea

Samsung Pay Most Popular Android Payment App in S. Korea

SEOUL, Aug. 14 (Korea Bizwire) — Samsung Electronics Co.’s mobile payment system, Samsung Pay, boasted 8.86 million users in July in South Korea, making it the most popular Android-based financial app, data showed Tuesday. According to the data compiled by industry tracker WiseApp, Samsung Pay saw its number of users move up 53 percent from [...]

Central Bank to Develop Settlement Service to Expand Mobile Cash Card Payment

Central Bank to Develop Settlement Service to Expand Mobile Cash Card Payment

SEOUL, Jul. 31 (Korea Bizwire) — The South Korean central bank said Tuesday that it will adopt a new mobile cash card settlement service starting next year in a bid to expand simplified mobile payments in the country. A council on financial information by the Bank of Korea (BOK) and local banks decided to develop [...]