Korea’s banks are making a renewed push on mobile payments in the face of increasing competition from outside the financial services sector, Korea Bizwire reports, citing Hana Bank’s ‘Hana N Wallet’, Industrial Bank of Korea’s ‘IBK One Money’, and Shinhan Bank’s ‘Zoo Money’ and ‘My Shinhan Pay’ services. “The sense of urgency that IT companies are encroaching on the mobile payment market is making banks competitively beef up their smartphone-based electronic commerce services and scramble into the war of mobile wallet,” it says.
- Paytm moves towards launching payments bank
- Australian digital payments to reach nearly A$1.9bn by 2020
- Contactless on the rise in the Netherlands
- A third of Europeans have made a mobile payment
- Proxama and Mapway launch BLE beacon service on London buses