Shinhan to put credit cards on the blockchain

Shinhan Card develops blockchain-based payment system — The Korea Times — “With the patent-winning technology, the card firm has established a blockchain-powered credit transaction process that enables various functions, such as setting a maximum spending limit, paying in monthly installments and completing payments between merchants and consumers… The company is the first in the world to have established a credit transaction service using the new record-keeping technology, it said.”





Korean banks back Samsung Pay

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... More




Korean banks accelerate mobile wallet plans

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... More


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