News about ET News.
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.
May 26th, 2016
LG is expected to launch its LG Pay mobile payment service in September, according to ETNews. “LG Pay is going to be released in September as a form of ‘all-in-one card’ that will become the world’s first mobile payment with IC (integrated circuit) chip,” the publication reports. The company announced it had developed an electronic LG Pay White Card that will let users register multiple credit cards for in-store payments and ATM withdrawals in January 2016 and confirmed its plans to launch the service in November 2015.
January 22nd, 2016
Samsung Pay users in South Korea will soon be able to make payments in China and the US using cards issued by South Korean card companies. “Samsung is going to finish linking foreign payment system with KB Card, Samsung Card, Lotte Card and Hana Card and start Samsung Pay service at foreign merchants at the end of this month,” ET News reports. “These four card companies have negotiated with Visa, MasterCard, UnionPay, JBC and others for Samsung Pay’s foreign payment.”
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.