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 [...]
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 [...]
SEOUL, Sept. 19 (Korea Bizwire) — Mobile payment platform provider Kakao Pay said Wednesday that the total value of its monthly transactions is forecast to surpass 2 trillion won (US$1.78 billion) this month for the first time since its launch. More than 1.8 trillion won worth of payments was made though the one-click payment system [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, Apr. 30 (Korea Bizwire) — More than a quarter of South Koreans have used mobile payment services as increasing numbers of people use mobile devices to pay for goods and services in one of the world’s most wired countries, a poll showed Monday. The survey of 2,500 adults, conducted by the Bank of Korea [...]
SEOUL, March 27 (Korea Bizwire) — The number of South Korean users of Samsung Electronics Co.’s mobile payment system Samsung Pay reached nearly 7 million in February, an industry tracker said Tuesday. According to the data compiled by WiseApp, some 6.94 million users of Android-powered smartphones used Samsung Pay at least once last month. WiseApp [...]
SEOUL, Mar. 22 (Korea Bizwire) — Starbucks Coffee Korea Co., the local unit of the U.S. coffee giant, said Thursday it will begin a test run of cashless stores at three outlets next month amid rising use of credit card and mobile payment systems. The stores at the country’s major office districts — Gangnam and [...]