South Korea’s Seoul Metro is to test a ‘tagless’ fare payment system that will enable passengers to pay for their tickets by walking through a ticketing gate without having to tap a contactless reader with their transit card or smartphone... More
Gyeonggi-do Province Transportation Bureau in South Korea has officially launched a ‘tagless’ fare payment system that uses Bluetooth technology to detect a Bluetooth signal from a passenger’s smartphone when they board and alight from the vehicle and then automatically charges their pre- or post-paid transit card for their fare... More
Employees travelling on Seoul Metro’s Ui-Sinseol light rapid transit line in South Korea are testing a face recognition payment system that enables passengers to pay their fares without needing to tap a smartphone or card or remove their face mask... More
LG U+ to offer blockchain-based overseas payment service — The Korea Herald — “Once the service is launched, LG U+ subscribers will be able to buy things at selected retailers using their mobile phones when they travel to Taiwan and Japan. Far EasTone subscribers will also be able to enjoy the same convenience when traveling to Korea and Japan. The service uses direct carrier billing, enabling transactions to be billed and paid through their carrier in their home currency.”
Accumulated payments with Samsung Pay surpass W10tn — The Korea Herald — “Accumulated payments made with Samsung Pay surpassed 10tn won (US$8.77bn) in two years since the mobile payment service was launched, Samsung Electronics said Sunday. Use of the mobile pay service nearly quadrupled in a year after reaching 2tn won in the first year.”
Kakao Bank attracts more than 1m accounts in five days — The Korea Herald — “Kakao Bank was launched by Kakao Corp, the operator of South Korea’s most widely used mobile messenger Kakao Talk. Users can open accounts easily with a mobile phone number and ID card without having to visit a conventional bank branch.”
LG Pay to be used for low-budget smartphones next year — Korea Herald — “‘We will expand the use of LG Pay into low-budget smartphones alongside premium phones next year,’ Cho Jun-ho, president of LG’s mobile communication division said during a meeting with local bloggers on Friday… Cho said the use of LG Pay will expand into online stores and the global market, although he did not elaborate the specific date.”
KT introduces ‘mother of all credit cards’ — Korea Herald — “Dubbed ‘Clip Card’ the device looks like credit and debit cards issued by financial institutions, but it has a 1.3-inch display on the surface of the card that enables users to register all their cards, which are displayed in barcodes… The KT platform is compatible with all types of credit cards regardless of card companies and financial institutions, and with any operating systems.”
KISA to unveil bio authentication for mobile banking in 2018 — Korea Herald — “Korea Internet & Security Agency is developing bio authentication for mobile banking to commercialize it by late 2018… The biometric authentication reads heart rates and electrocardiograms on a user’s smartwatch, which sends the information to his or her smartphone. The smartphone is then unlocked with the user’s fingerprint which enables the use of mobile banking.”
The Korea Communications Commission (KCC) is to run a pilot allowing consumers to authenticate themselves when making online purchases by tapping their credit card against an NFC smartphone, The Korea Herald reports... More
Apple Pay and Android Pay are preparing to launch in Korea, according to The Korea Herald... More
A facial biometric authentication service for money transfers has been launched by Korea International Trade Association subsidiary Korea Trade Network (KTNET), in collaboration with biometrics provider Daon and the Korea Smart Authentication Corporation... More
Handset maker Xiaomi has filed a patent in Korea for a mobile payment service called Xiaomi Pay, The Korea Herald reports... More
Samsung is to add Samsung Pay NFC payments functionality and fingerprint scanners to its mid- and low-end handsets, Korea Herald reports... More
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... More
Samsung Pay is reportedly set to start a second round of beta testing in Korea with Samsung Card this Friday... More
Korean internet portal Naver has launched its mobile payments platform Naver Pay following an unveiling in March... More
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... More