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    Industrial Bank of Korea

    News stories featuring Industrial Bank of Korea:

    Samsung Pay to enable deposits at South Korean ATMs

    March 7th, 2016

    Samsung Pay users in South Korea will soon be able to both deposit and withdraw money from the ATMs of Woori Bank, Shinhan Bank, KB Kookmin Bank, Industrial Bank of Korea and NH Nonghyup Bank. “Samsung Pay will support depositing money into ATMs in South Korea when sales for the Galaxy S7 and S7 Edge begin March 11,” ZDNet reports. “The South Korean tech giant declined to comment on the global availability of the new features.” Woori Bank added Samsung Pay to its ATMs in September 2015.

    Korean banks back Samsung Pay

    February 16th, 2016

    Korean banks are lining up to support Samsung Pay, including Shinhan Bank, KB Kookmin Bank, NH Nonghyup Bank and Industrial Bank of Korea, Korea Joongang Daily reports. “Currently, Samsung Pay only works with Woori Bank, but the exclusive contract between the two will expire next month, and now, more institutions are seeking to link up with Samsung Pay,” the publication says. 80,000 credit and debit cards were registered on Samsung Pay in Korea within a week of its launch.

    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.”

    Korean banks accelerate mobile wallet plans

    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.

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