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Samsung and Naver have formed a strategic partnership designed to maintain the two companies’ mobile payments market leadership in South Korea ahead of Apple’s expected launch of Apple Pay in the country in the coming months... More
Credit card companies to launch ‘finger vein’ payment system — The Korea Times — “Three major card companies — Shinhan, BC, and Hana Card — announced on Sunday that were developing a biometrics payment system that authorizes transactions by scanning fingertips… The companies said the payment method would be available at convenience store chains across the country in October.”
Samsung Pay is now available on the Gear S3 smartwatch in Korea and Samsung Pay Mini — the pared-down version of the mobile payment service — has also gone live in the country... More
Android Pay will launch in Korea in May with support from Shinhan Card, Hyundai Card, Lotte Card and Hana Card, according to ETNews... 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
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
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
OPINION: Korean mobile network operator SK Telecom’s new T Smart Pay service comes with more than one twist to the ‘standard’ NFC business model. Not only has SKT bought its way into a card issuer for the launch, but it is also signing distribution deals with leading retailers. More
Korean consumers who sign up for a Hana SK Card credit account and pick up a new ‘13.56MHz RF SIM’ via a retail partner will then be able to store multiple credit, loyalty and membership cards and discount coupons on their mobile phone. More
Bloomberg reports that China Mobile may be about to buy a 20% stake in Shanghai Pudong Development Bank at a cost of 40bn yuan (about $5.9bn)... More
Hana Card, the Korean credit card issuer in which SK Telekom took a 49% stake in December, has announced it is to launch its new mobile proximity service in mid-March... 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