News about the NFC market in South Korea — trials, pilots, tests and live services.
March 22nd, 2017
LG will launch its LG Pay mobile payments service in Korea in June this year using a mobile payment technology that works by “generating a magnetic signal from a mobile device such as a smartphone, and paying it to a general credit card terminal”.
March 22nd, 2017
Samsung Pay has launched in India with support from Visa, Mastercard, American Express, Axis Bank, HDFC Bank, ICICI Bank, SBI Cards and Standard Chartered Bank, with Citibank India support expected “shortly”. The service has also integrated India’s leading mobile wallet Paytm and comes with support for peer-to-peer money transfers through the Indian government’s Unified Payments Interface platform.
March 9th, 2017
Samsung Pay has launched in beta across Sweden, the first Nordic country to see the mobile payment service rolled out, with support from debit and credit card providers Mastercard, Mastercard SAS, Visa, Eurocard, and banks…
March 8th, 2017
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. “The smartphones can read the personal information,” KCC says. “Credit card firms and credit appraisal firms share the information to prove whether the information is genuine.”
February 24th, 2017
Samsung Pay has begun rolling out in Malaysia with support from CIMB, Citibank and Standard Chartered, with Hong Leong Bank coming soon. The banks join existing support for the mobile payment service from Maybank, Mastercard…
February 21st, 2017
Alipay parent company Ant Financial is to invest US$200m in South Korean mobile finance platform Kakao Pay to “expand its online and offline payment coverage”. Ant Financial has also made its first investment in the Philippines, announcing a strategic partnership to “scale up” mobile operator Globe Telecom’s mobile wallet and digital financial service Mynt.
February 15th, 2017
Apple Pay and Android Pay are preparing to launch in Korea, according to The Korea Herald. “Apple’s executives recently held a meeting with South Korean financial authorities — a move that can be viewed as the company testing the waters,” the publication reports. “Local card companies forecast that Google’s Android Pay is likely to be introduced earlier than Apple Pay.”
February 9th, 2017
LG will not launch its LG Pay mobile payments platform on the upcoming LG G6 device due to time constraints and the company may be abandoning its plans to launch the service altogether, South Korean publication Newsis reports. The company delayed the introduction of LG Pay due to issues testing the service in South Korea in September 2016.
February 9th, 2017
Google has officially unveiled Android Wear 2.0, the new version of its operating system for smartwatches, and two new watches from LG — one of which comes with NFC to support HCE mobile payments using…
February 2nd, 2017
Samsung is to launch a pared-down version of Samsung Pay which will make the mobile payments service available on all Android handsets. The Samsung Pay Mini app will support certain features of the original platform,…
February 1st, 2017
Samsung Pay is preparing to launch in India. “A message that says ‘The future of payments is coming soon!’ pops up as soon as you start using the Galaxy S7 or Galaxy S7 Edge running Android 7.0 in India,” SamMobile reports. “If you dig a little deeper, you can find the Samsung Pay app installed on the phone, which is proof enough that the South Korean electronics giant is almost ready to launch Samsung Pay in India.”
January 13th, 2017
A palm vein authentication system compact enough to be used in tablets and other mobile devices as “dependable as current optical units” has been unveiled by Japanese electronics firm Fujitsu. The company says it expects…
January 10th, 2017
South Korea’s Financial Services Commission (FSC) is planning to launch a pilot in the first half of 2017 that will allow consumers to make payments at the point of sale using palm vein authentication technology,…
January 9th, 2017
The Bank of Korea (BOK) is to pilot a service that allows merchants to give customers change in the form of a top-up onto a prepaid card instead of coins. The project forms part of…
December 13th, 2016
Apple has rejected the registration of the Samsung Pay Mini online payments app onto its app store, according to ET News. “Competition between Samsung and Apple has expanded towards markets for online payments, and Samsung has decided to focus on Android rather than providing its service through Apple devices,” the publication reports. The app was expected to go live in South Korea in June 2016. It is now expected to be introduced in January 2017.
December 1st, 2016
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. “This jointly developed facial recognition service can be applied to most smartphones equipped with a selfie camera,” The Korea Herald reports. In addition to mobile apps, BioCA can also be applied to immigration checkpoints at airports, keyless automobiles and property entrances. The service is built on Daon’s IdentityX solution and will also support fingerprint and voice recognition.
November 17th, 2016
PARTNER NEWS: Korean credit card network LotteCard is using digital security giant Gemalto’s Optelio Contactless Stickers to allow its customers to make NFC mobile payments at 35,000 stores throughout South Korea. “The miniature size sticker is one third of the size of a standard banking card and designed to adhere to the surface of any mobile phone,” Gemalto says. “The sticker also doubles as a credit card for online shopping.”
October 24th, 2016
South Korea’s KB Kookmin Card is working with Bitcoin exchange service startup Coinplug to release a blockchain-based personal authentication service for mobile transactions next month, Pulse reports. It will first be implemented in its mobile credit card app, simplifying the current system that requires additional personal authentication steps for logging in, registering a new credit card and for making mobile payments of 300,000 won (US$264.08) or above.
October 7th, 2016
Customers at Lotte Department Store in the Bundang district of Seoul, South Korea, are being offered a new service that enables them to shop by scanning the barcode on their desired products using a shopper scanner…
September 27th, 2016
LG has delayed the introduction of LG Pay mobile payments due to issues testing the service in South Korea, according to Android Headlines. It had been expected to launch this month. In January 2016 the company announced it had developed an electronic LG Pay White Card allowing users to register multiple credit cards for in-store payments and ATM withdrawals. LG confirmed plans to introduce its own mobile payment service in November 2015.