Sunday 29 November 2015 | RSS



    News about the NFC market in Korea — trials, pilots, tests and live services.

    Samsung Pay set for China, Spain and UK?

    November 19th, 2015

    Samsung Pay will launch in China, Spain and the UK in the first quarter of 2016, “as per the information that we’ve received,” SamMobile reports. The service has been live in Korea since August 2015 and in the US since September.

    LG signs up Korean issuers for mobile payments platform

    November 19th, 2015

    LG has confirmed it is planning to launch its own mobile payments service as early as next month. The company has signed up Korean card issuers Shinhan Card and KB Kookmin Card as launch partners and is expected to call the service LG Pay. LG sparked rumours of the plan when it filed trademarks for ‘LG G Pay’ and ‘G Pay’ in South Korea in October 2015.

    Samsung Pay to add P2P payments?

    November 9th, 2015

    Korean startup Hankook NFC has reportedly applied for a patent for a hardware module that would allow consumers to use Samsung Pay to transfer money between devices and pay with a credit card. “Once the module is installed, smartphones can be used as mobile credit card payment terminals,” Business Korea reports. “When you order some food for delivery or go to a gas station, you can pay for food or gas with your smartphone without any wireless credit card payment devices.”

    One million Koreans sign up for Samsung Pay

    October 26th, 2015

    The number of Koreans using Samsung Pay has doubled in the last month to one million and 100,000 payments are now being made using the service every day, Business Korea reports. “Cumulative payments exceeded 100 billion won (US$88 million). Likewise, daily average payments increased from approximately 800 million won (US$705,192) to over 2 billion won (US$1.8 million) between the early stage of the service and recent days.”

    Alibaba and Ant Financial make “strategic investment” in India’s Paytm

    September 29th, 2015

    Chinese e-commerce giant Alibaba and its affiliate Ant Financial are to make a “strategic investment” believed to be worth some US$680m in Indian mobile payment platform Paytm through an agreement with its parent company One97 Communications…. More

    Samsung Pay goes live in the US

    September 28th, 2015

    Samsung Pay has launched in the US today after going live in Korea in August 2015, where it racked up a total 1.5m transactions in its first month. It launches with support from American Express, Bank of America, Citi, US Bank, MasterCard and Visa, with mobile network operators Sprint, US Cellular, AT&T and T-Mobile on board. Verizon Wireless has yet to announce its support.

    McDonald’s to accept Alipay in more than 2,100 restaurants in China

    September 24th, 2015

    Chinese customers of fast food chain McDonald’s will soon be able to use Ant Financial’s Alipay QR code mobile payment platform to pay for their food and drink in more than 2,100 restaurants. The roll-out… More

    Korean Samsung Pay users spend $30m in first month of launch

    September 24th, 2015

    More than US$30m has been spent through Samsung Pay since the mobile payment service’s launch in Korea one month ago, Samsung has revealed. In total, more than 1.5m transactions were conducted, of which 60% took… More

    500,000 Koreans sign up for Samsung Pay

    September 17th, 2015

    Samsung Pay has signed up more than 500,000 users since its introduction in Korea in August 2015. “If this trend continues, it seems to be only a matter of time to surpass 1m subscribers in 1 to 2 months,” Business Korea reports. “Both the ICT industry and Samsung Electronics are apparently surprised.” The company is expected to launch Samsung Pay across the US later this month.

    Samsung’s NFC smart suit to hit IFA 2015 catwalk

    September 3rd, 2015

    Samsung’s fashion division is to showcase a smart suit equipped with an NFC chip in its sleeve at IFA 2015 in Berlin, Germany. The item from Samsung C&T Fashion Group will be one of four on show over the next week as the company unveils its platform brand for wearables which aims to integrate fashion design and technology. More

    80,000 cards added to Samsung Pay in Korea

    August 26th, 2015

    More than 80,000 credit or debit cards have been registered on Samsung Pay in Korea since its launch last week. “More than 10,000 cards were registered on August 20,” Business Korea reports. “About 80,000 cards are believed to have been registered as of August 24. Observers say around 20,000 credit or check cards issued by large credit companies have registered.”

    US to get Samsung Pay in September

    August 14th, 2015

    Samsung Pay will launch in Korea on 20 August and in the US on 28 September, the handset maker confirmed as it announced two new flagship devices in New York yesterday. “Samsung plans to roll out the service in the UK, Spain and China as well,” the company says of its fingerprint-secured NFC- and MST-based mobile payment offering. “Select US users of Galaxy S6, S6 Edge, S6 Edge+ and Note 5 will be able to participate in a beta trial from 25 August ahead of the 28 September launch.”

    Kona I unveils Kona Pay

    August 12th, 2015

    South Korean smart card provider Kona I has unveiled Kona Pay, a platform that allows banks and credit card firms to develop mobile payment services based on NFC, QR and barcodes. “Different from Apple Pay and Samsung Pay, card issuers can have tailored services for their payment systems built upon Kona Pay,” Korea Herald reports CEO Cho Chung-il as saying.

    LG U+ to issue UnionPay mobile credit cards in China

    August 12th, 2015

    Korean mobile network operator LG U+ will issue UnionPay mobile credit cards and payment services in China, in partnership with KB Kookmin Card, from next month. “The telecoms operator is about to obtain approval from the People’s Bank of China,” Business Korea reports. “The users can use NFC-based mobile credit card payments at five million UnionPay terminals in China.”

    Korean card issuers cleared for biometrics

    August 10th, 2015

    Korean card issuers will adopt biometric recognition solutions from September following clearing from the Financial Services Commission. “BC Card is the first local financial institution to launch a biometric recognition and settlement service next month using a fingerprint scanning system,” Korea Bizwire reports. “Shinhan Bank is preparing to introduce a vein pattern recognition system, while Industrial Bank of Korea (IBK) is focusing on iris technology.”

    Samsung Pay to start second beta testing round

    August 4th, 2015

    Samsung Pay is reportedly set to start a second round of beta testing in Korea with Samsung Card this Friday. BC Card is also expected to test the service from August 20. “They both will receive feedback from the participants of the test runs and share the results with the tech giant to improve the payment system,” The Korea Herald reports. Samsung kicked off its first beta testing round in Korea last month.

    Samsung Pay trial in Korea confirmed

    July 17th, 2015

    Samsung has confirmed it began testing Samsung Pay with Korean credit card firm Samsung Card on July 15 for select customers in Korea. “Users of the Galaxy S6 and S6 Edge are the first to have access to Samsung Pay,” Samsung says. Rumours surfaced about the plans to trial the mobile payment solution earlier this month.

    Apple Pay faces problems in Korea

    July 9th, 2015

    Apple faces challenges in introducing Apple Pay in Korea after failing to “coordinate different opinions” over transaction fees with local credit card companies, including Shinhan Card, Hyundai Card and KB Card. “There is a big difference in technical issues as well, including fingerprint recognition,” Business Korea reports. The news follows reports that Samsung Pay entered beta testing in Korea this week.

    Samsung Pay enters beta testing

    July 7th, 2015

    Korean credit card firm Samsung Card is recruiting beta testers for Samsung Pay to pilot the mobile payments service in “various major offline member stores” from July 15 to August 20, Korea Bizwire reports. Eight Korean card companies have been “thoroughly testing” Samsung Pay, according to Android Authority, to ensure it is ready for public launch in Korea and the US in September 2015.

    Koreans claim Apple Pay talks

    July 3rd, 2015

    Apple has reportedly held meetings with Korean financial institutions, including Hana Financial Group, as it looks to launch Apple Pay in the country. “We recently had a private meeting with Apple, and there are some problems that need to be solved,” a card company executive told ET News, adding that issues around tokenization and “commission problems” need to be addressed.

    Full list of NFC trials, pilots, tests and live services around the world...

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