Apple Pay looks to enter South Korean market

“Apple Pay is entering into Korean market,” Jaeshik Gil reports for The Electronic Times.

“Apple recently had a private meeting with 3 to 4 Korean card corporations such as Hana Financial Group and Visa Card,” Gil reports. “One person affiliated with Korean financial corporation that met with Apple explained that information cannot be discussed in detailed due to NDA, and this is just work done in advance by Apple Pay to enter Korea.”

“According to financial circle, Apple held a private meeting with Hana Financial Group and Visa Card and felt out its plan to enter into Korean market,” Gil reports. “t began its investigation on Korea’s NFC-based payment market and focused on variety of matters that will enable Apple Pay to make a payment in Korea. It also showed a possibility of working together with Visa Card and Hana Financial Group to expand and link infrastructures, and Apple Pay will be commonly used in early next year at the earliest.”

Read more in the full article here.

MacDailyNews Take: Sleep tight, Sammy.

SEE ALSO:
Apple Pay coming to the UK in July – June 8, 2015
Samsung Galaxy S6 phones suffer weaker than expected sales in South Korea homeland – April 22, 2015
Apple records highest ever market share in Japan and South Korea – January 21, 2015

[Thanks to MacDailyNews Reader “Bill” for the heads up.]

9 Comments

      1. Well 김치 키드
        Korea is called the Republic of Samsung for a reason. The Korean government is very protectionist. When it comes to money the Korean government finds a way to take a cut, just because. The Korean banking system especially online is crap. For example it still relies on Active X. Korea tends to isolate itself Koreans often buy/use things based on weather they are from Korea or not. Im surprised Korean banks will want to use a non-Korean system such pay Especially with all of the Korean competitors that have poped up very recently.

        There are no official Apple stores in Korea only authorized retailers. iTunes cards aren’t sold in Korea idea. It took forever for the Korean app store to actually get apps despite the android app store having the same apps for years.

        Korea does have the systems in place to allow pay to work. Im hoping it does come here soon. Also it think it would be great to use on the public transit here.

    1. Ask every vendor you do business with if they take ApplePay and if they don’t, let them, know that you want ot and will shope where they take it.

  1. And still not i Canada. Canadian banks are dragging their feet and likely trying to come up with a system of their own and force us to live without Apple Pay.

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