SEOUL, April 3 (Korea Bizwire) — The amount of payments made electronically hit a fresh record high last year amid a growing trend of South Koreans using the Internet and mobile devices to carry out their financial transactions, central bank data showed Tuesday. The daily average for electronic financial transactions came to 468.8 billion won [...]
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, Jan. 9 (Korea Bizwire) — Applications for mobile payments and money transfers marked the biggest growth in the smartphone app market last year, data provided by Nielsen Korea showed Tuesday. Five of the top 10 apps from January to November last year were those referred to as fintech, short for financial technology, apps. Toss, [...]
SEOUL, Dec. 10 (Korea Bizwire) — Samsung Electronics Co.’s mobile payment system is moving to expand into the banking sector to offer more diverse services to users, the South Korean tech giant said Sunday. The company said that starting Thursday, the payment system installed on some of its newer smartphones can be used to carry [...]
SEOUL, Dec. 4 (Korea Bizwire) — Samsung Electronics Co. said users of its mobile transaction system, Samsung Pay, are able to make payments at the country’s top theater chain CJ CGV as of Monday. While CJ CGV theaters accepted Samsung Pay in 2015 after the service was first launched, the two companies later suspended cooperation [...]
SEOUL, Sept. 22 (Korea Bizwire) — A new survey has revealed South Korean customers are most satisfied with Samsung Pay when it comes to simple payment services. According to findings from the survey conducted by Korea Consumer Agency with a sample of 1,200 respondents, Samsung Pay was found to be the preferred simple payment service [...]
SEOUL, Aug. 20 (Korea Bizwire) – Samsung Electronics Co.’s mobile payment service has hit 10 trillion won (US$8.76 billion) in accumulated transaction volume in South Korea, the company said Sunday. Samsung Pay was launched at home in August 2015 and had 2 trillion won of transactions in its first year. It uses magnetic secure transmission [...]
SEOUL, Jun. 14 (Korea Bizwire) — The rise of fintech is reshaping the landscape of the South Korean financial industry. Fintech, a portmanteau of the words ‘finance’ and ‘technology’, refers to the use of IT services to replace traditional human-based processes or interaction, examples of which include internet payment systems such as Paypal. Similar services [...]
SEOUL, March 22 (Korea Bizwire) – Samsung Electronics Co. said Wednesday it has released its mobile payment service — Samsung Pay — in India, tapping into one of the fastest-growing smartphone markets in Asia. The South Korean tech giant said it clinched agreements with seven major Indian financial companies such as AXIS Bank and HDFC [...]
SEOUL, Oct. 26 (Korea Bizwire) – Samsung Electronics Co. said Wednesday it will launch its mobile payment service, Samsung Pay, in Russia, Thailand and Malaysia later this year, bringing the service to a total of 10 countries. The South Korean tech giant said it will form a partnership with Mastercard to offer a simplified online [...]