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[Alpha Biz=(Chicago) Reporter Kim Jisun] It is expected that Apple Pay, a non-contact simple payment system of Apple in the United States, will be available in Korea from next month. The Financial Services Commission said on the 5th that it has confirmed that credit card companies can push for the introduction of the Apple Pay service by complying with the necessary procedures after considering the interpretation of related laws.
The service is expected to start early next month from where it is equipped with a near-field wireless communication (NFC) terminal necessary for Apple Pay payment. NFC terminals are installed in convenience stores nationwide, Shinsegae Department Store, Lotte Department Store, Starbucks, Paris Baguette, and Lotte Hi-Mart.
Earlier, Hyundai Card signed a contract with Apple to prepare for the launch of Apple Pay in Korea.
Of the 2.9 million credit card merchants in Korea, less than 10% have NFC terminals compatible with Apple Pay, so there will be a limit to the rapid distribution of devices without payment of installation compensation.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
