Apple in 'Early Stages' of Discussions for Apple Pay in South Korea, Android Pay Likely to Launch First

Discussion in 'iOS Blog Discussion' started by MacRumors, Feb 15, 2017.

  1. MacRumors macrumors bot

    MacRumors

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    A few Apple executives have had meetings with South Korean financial authorities, spurring a rumor that the Cupertino company is beginning to make headway in its attempt to launch Apple Pay in the country. Sources speaking with The Korea Herald said that Apple's legal director and senior counselor met with the country's financial authorities back in November to discuss Apple Pay, but the company has yet to have another meeting with the government.

    As it stands, Android Pay is believed to launch in South Korea ahead of Apple Pay. According to an anonymous source from a local card company, "the technology development with Google for Android Pay is in full swing," with Google having already partnered with card companies like KB Kookmin, Shinhan, Lotte and Hyundai in order to develop online and offline payment systems.

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    For Apple, the country's involvement and work on Apple Pay "is still in an early stage," potentially due to South Korea's lack of wide NFC terminal adoption in retail stores. Google is said to be developing an online payments feature for Android Pay that could circumvent the need of an NFC terminal. For Apple Pay to be widely adopted, the company may have to wait for more NFC support -- which its mobile wallet requires -- in the country.
    In participating retail locations and apps, Apple Pay is currently available in the U.S., UK, China, Australia, Canada, Switzerland, France, Hong Kong, Russia, Singapore, Japan, New Zealand, and Spain. Apple previously had trouble introducing another of its services, Apple Music, in South Korea due to the country's strict copyright laws.

    Article Link: Apple in 'Early Stages' of Discussions for Apple Pay in South Korea, Android Pay Likely to Launch First
     
  2. Paul Dawkins Suspended

    Paul Dawkins

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  3. tmiw macrumors 68020

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    Apple doesn't need to wait for NFC. Case in point: the US.

    Also, assuming more NFC isn't forthcoming, why can't Apple just release for web/app payments only?
     
  4. LordQ Suspended

    LordQ

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  5. tmiw macrumors 68020

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    Last time I went to Mexico it seemed that card acceptance and use was nowhere near as common as some other places. Even at the major stores people used cash more often than not. (And this was in Puerto Vallarta, a tourist town.) Has that changed?
     
  6. LordQ Suspended

    LordQ

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    That may be the case, though where I live cards are very common.
     
  7. wnhmasterchief macrumors newbie

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    I live in Seoul and pretty much all retailers have updated their POS to NFC-enabled ones a couple of years ago already so I don't think the lack of NFC has anything to do with the delayed launch of Apple Pay.

    It's probably more due to local regulations of financial institutions (very stringent and as all regulations here, employed as a way to protect local players from international competition).
     
  8. Glassed Silver macrumors 68020

    Glassed Silver

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    Tim Cook here, what's that?

    Glassed Silver:win
     

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7 February 15, 2017