News about the NFC market in Korea — trials, pilots, tests and live services.
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.
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.
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.
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.
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.”
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.”
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.
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.
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”.
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…
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.
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…
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.
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.”
October 24th, 2014
Apple is eyeing up the possibility of launching Apple Pay in Korea, Korea Bizwire reports. “It is reported that the American company inquired with the Financial Supervisory Service about the electronic payment business licensing and security suitability evaluation procedure,” the article says. “According to financial industry sources on October 20, officials from Apple Korea visited the financial regulator recently and asked about domestic registration of its new e-payment service Apple Pay.”
September 29th, 2014
Mobile offers platform Shopkick, which is working with a number of high profile US retailers to roll out a network of Bluetooth Low Energy (BLE) beacons, has been acquired by SK Planet (SKP), operator of…
August 6th, 2014
Korean mobile messaging service Kakao is to launch a new payment solution in September, in collaboration with nine credit card firms, that will let its 100 million KakaoTalk customers make payments using only their password. “Through integration of the payment modules to the KakaoTalk network, the company will help users buy goods simply with the KakaoTalk password once they register credit card or account information at the first transaction,” the Korea Times reports.
July 28th, 2014
Coffee chain giant Starbucks now has 12 million active users of its mobile app in the US and Canada alone. Customers make six million mobile payments a week — representing more than 15% of all…
July 25th, 2014
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.
July 18th, 2014
Korean mobile input technology specialist CrucialTec is developing a fingerprint authentication solution that will replace passwords when consumers access mobile banking services on their smartphones, Korea Herald reports. The solution, which is designed to achieve the necessary security certification for use in online banking in Korea, is set to be introduced later this year.