News from IT House on March 21,Apple officially launched the Apple Pay payment service in the South Korean market todayallowing iPhone and Apple Watch users in the country to use Apple’s payment system for contactless payments.
Apple has been promoting the launch of the Apple Pay service in South Korea since 2017, but it took until February this year to get approval from the financial watchdog due to heavy scrutiny from the regulator.
IT House learned from The Korea Times report that NFC terminals in South Korean retail stores have increased significantly in the past 6 years, but the adoption rate is still very low, and this is a “major step” for Apple to promote the Apple Pay service in South Korea. challenge”.
Another thing worth noting is that currently Apple’s launch of Apple Pay in South Korea is limited to Hyundai Card users, and no other banks have joined Apple Pay.