LG has announced the launch of its LG Pay mobile payments service in Korea, allowing consumers with the LG G6 smartphone to make mobile payments using the service’s Wireless Magnetic Communication (WMC) technology... More
Bankcard association UnionPay International has launched its host card emulation (HCE) and tokenization based mobile payment service in South Korea, enabling its cardholders to pay by tapping their mobile phones. The launch of UnionPay HCE mobile QuickPass is supported by mobile network operator KT and its subsidiary BCcard. More
Samsung Pay now has approximately five million users in South Korea and the US who have processed more than $500m through the mobile payment service in the first six months since its launch. The service is due to be rolled out in China next month, Samsung has revealed, followed by a global expansion to Australia, Brazil, Singapore, Spain, the UK and Canada later in the year. More
Korean card issuers will adopt biometric recognition solutions from September following clearing from the Financial Services Commission... 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 is to introduce a mobile payments platform from June that will let users verify themselves using fingerprint recognition and make payments using their Naver ID, a password, the mobile number of the recipient and either a credit or debit card... More
KT’s MoCa combines payment cards, coupons and offers stored in the cloud with a mobile wallet app that allows consumers to make payments at merchants via traditional barcodes, QR codes or NFC — providing retailers with the flexibility to use their prefered choice of POS hardware to close the “last inch” at the point-of-sale. More
Korea’s leading mobile network operators, card networks, phone manufacturers and government agencies have joined forces to provide shoppers in Seoul’s busiest shopping district with a wide range of NFC services including payments, couponing, smart posters and digital receipts. More
Telecoms research institute ETRI has established a standard way for Korean merchants to deliver receipts to NFC mobile phones, allowing stores to cut out the need to print paper sales slips. More
Korean mobile network operator SK Telecom is to open an ‘NFC Zone’ in Seoul, the company’s head of global partnerships has told delegates attending the GSMA’s Mobile Money Summit in Singapore... More
Up to 300,000 NFC-enabled points of sale are set to be installed in South Korea and all smartphones must include NFC capabilities by the end of 2011, Reuters has reported... More
Korean mobile network operators, card issuers, consumer electronics manufacturers and government organisations have formed the Grand NFC Korea Alliance with the aim of creating a US$1bn business opportunity and more than 5,000 jobs. More
Korean consumers will be able to use their mobile phones to make contactless credit card payments and pay for transport tickets from the second half of 2010, following SK Telecom’s purchase of a 49% stake in Hana Card. More
Two of Korea’s leading card issuers are seeking to launch their own Mobile Virtual Network Operator (MVNO) services, in a bid to ensure they are in control of their customers’ mobile wallets. More
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