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Korea

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

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.

Naver Pay launches in Korea

June 25th, 2015

Korean internet portal Naver has launched its mobile payments platform Naver Pay following an unveiling in March. “Naver said it has partnered with 14 local banks and credit card firms to provide the payment service and plans to add more,” Korea Herald reports. “Naver currently has 53,000 member stores that are contracted to provide customers with Naver Pay.”

LG G5 could launch with iris scanner

June 1st, 2015

LG’s next flagship smartphone, the LG G5, will reportedly come equipped with an iris scanner and recognition technology developed by Korea-based biometrics provider Irience. “It is expected that the iris scanner will enable LG G5 users to use a wide variety of biometric technologies on the market,” Whowired Korea reports. “In particular, the feature will strengthen the security in the mobile banking transactions.”

Brainwave biometrics to arrive in three years

April 10th, 2015

Consumers could be able to authenticate themselves using brain wave and heart beat bio-signals from as soon as February 2018. The Korea Internet & Security Agency is to develop standards for the next-generation biometric technologies, and has set up a research committee which includes university hospitals and leaders from the telecommunications and biometrics industries, WhowiredKorea reports.

Naver Pay to go live in June

March 18th, 2015

Korean internet portal Naver is to introduce a mobile payments platform from June that will let users verify themselves using fingerprint recognition and make payments using their Naver ID, a password, the mobile number of the recipient and either a credit or debit card. “It has tied up with five credit card firms, including BC Card Co and Samsung Card Co, and is in talks with five major local banks to forge the partnership to provide Naver Pay,” Yonhap reports.

No Samsung Pay fees for Korean issuers

March 9th, 2015

No fees will be charged by Samsung to card issuers making use of its new Samsung Pay service in Korea, Business Korea reports, “to help dominate the rapidly-growing mobile payments market”. Samsung’s revenue plan for the US “is still unknown”, the report adds, “but an industry source said that the company is unlikely to charge fees in the US in light of its decision in Korea”.

Korea shifts to NFC authentication for mobile banking

March 2nd, 2015

Korean financial institutions are to offer streamlined NFC authentication for mobile banking transactions starting from as soon as the first half of 2015, according to local media reports. Bank customers currently use dedicated passcode generator devices… More

Fime gets NFC Forum analog testing qualification

January 5th, 2015

NFC testing specialist Fime has announced its labs in Asia, EMEA and Korea have been qualified to perform NFC Forum analog certification testing. “These Fime laboratories are now authorised to perform all forms of NFC Forum certification testing, covering analog, digital, logical link control protocol and simple NDEF exchange protocol (SNEP),” the company explains.

Korean banks partner with messaging giant for mobile banking service

November 13th, 2014

Korean internet and messaging giant Daum Kakao has launched BankWalletKakao, a mobile wallet service provided in partnership with 16 Korean banks and Korea Financial Telecommunications and Clearing Institute (KFTC). The service leverages instant messaging technology… More

SK Planet to roll out Bluetooth beacons to 10,000 stores across Korea

November 3rd, 2014

SK Planet has launched a new Bluetooth Low Energy (BLE) service in Korea that offers customers reward points and benefits directly on their mobile device whenever they enter a participating retail location. The BLE beacon-based solution is expected to be installed in more than 10,000 stores by next month. More

Samsung to offer money transfers

October 29th, 2014

Samsung will launch a mobile money transfer service in Korea at the end of this year in partnership with mobile payment service provider Yelopay and six banks, Korea Bizwire reports. “Samsung Wallet, which used to be used only for coupon services and app cards, is now transformed into [a] fintech service platform,” the article says, noting that users can send up to 100,000 won at a time through the service. “The six financial institutions including Kookmin, Shinhan, Woori, Nonghyup, Citi and Korea Post Office reportedly have announced collaboration with the electronics company, but it plans to expand to all financial organisations.”

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

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