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Samsung Ready to Hit the Ground Running in Fintech Industry

Samsung Ready to Hit the Ground Running in Fintech Industry

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 [...]

Apple Pay Reportedly Knocks on Door of Korea’s Mobile Payment Market

Apple Pay Reportedly Knocks on Door of Korea’s Mobile Payment Market

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 [...]

How Fast Can Korea’s “Fintech” Industry Grow?

How Fast Can Korea’s “Fintech” Industry Grow?

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 [...]

E-commerce Transactions Are Available Only with Username and Password Soon

E-commerce Transactions Are Available Only with Username and Password Soon

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 [...]

Kakao Keeps Expanding into Brick-and-mortar Businesses

Kakao Keeps Expanding into Brick-and-mortar Businesses

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 [...]

Financial Firms’ Biggest Competition: Starbucks and Alibaba

Financial Firms’ Biggest Competition: Starbucks and Alibaba

SEOUL, Korea, April 10 (Korea Bizwire) – What could be a potential archrival of a financial company? Usually, it could be other competing financial companies. In Korea, however, diversified market environment changed the notion. Can you imagine that a financial company is competing with a coffee chain or an Internet company? It happens, though. As [...]