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Now I'm wondering how Samsung Pay works in South Korea. Anyone got the deets?

By using the old magnetic stripe readers, that’s how. Samsung phones prior to the galaxy S21 used to come with a technology called mst that let them use the magnetic stripe reader in the absence of NFC.
 
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Yeah that’s why I’m confused. I would have thought with Samsung pay they would have contactless payments already.

They didn’t have to implement nfc contactless because Samsung provided support for their old terminals by using mst, a technology that allowed Samsung phones to communicate with the old magnetic stripe readers. By providing legacy support, Samsung prevented the expansion of nfc among merchants since they could take samsung pay without upgrading.

And the same happened in Mexico: Samsung heavily promoted mst -to the point of even leaving all of its watches off their official list of samsung pay compatible devices because they only had nfc- and merchants didn’t upgrade their POS terminals at all. Unfortunately, Samsung’s strategy didn’t work in Mexico as it did in Korea and Samsung Pay was discontinued in Mexico in august 2021. Curiously, at the same time as Apple Pay was adding support for visa cards, which had been unavailable for 6 months after its launch.
 
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You do realize that’s entirely Walmart’s decision not to support Apple Pay, right?
What baffles my mind is that some stores like Home Depot had Apple Pay compatible NFC EMV terminals but paid to replace them with non-NFC terminals. I think Home Depot was trying to roll out a proprietary service just like Walmart Pay, but the efforts appears to have stalled since.
 
Finally! been waiting, thought it was coming with 16.4 so this is great news. The only downside is it's hyundai card 🥲. Gonna have to wait hopefully not too long for hana, kookmin, shinhan, and woori banks the major banks to get it their side working with applepay. The biggest thing will be having transportation working with t money and cashbee. Like taiwan, japan(suica and posmo).
 
Of course South Korea was investigating whether Apple Pay breaks any laws…. Must not be because of Samsung.
 
Finally! been waiting, thought it was coming with 16.4 so this is great news. The only downside is it's hyundai card 🥲. Gonna have to wait hopefully not too long for hana, kookmin, shinhan, and woori banks the major banks to get it their side working with applepay. The biggest thing will be having transportation working with t money and cashbee. Like taiwan, japan(suica and posmo).

Not surprising that it came before iOS 16.4 was released. Although Apple Pay launches have occured at the same time as software update releases more than once, apple pay launches have never been tied to software updates.
 
What baffles my mind is that some stores like Home Depot had Apple Pay compatible NFC EMV terminals but paid to replace them with non-NFC terminals. I think Home Depot was trying to roll out a proprietary service just like Walmart Pay, but the efforts appears to have stalled since.

The one that baffles me the most is Walmart. Not only do they go to great lengths in trying to avoid accepting nfc contactless, but they even went so far as to block the use of Samsung Pay via the old magnetic stripe readers (mst).

And in Mexico Walmart has become the only supermarket chain to disable contactless even on the wireless POS used for curbside pickup and deliveries. All other supermarkets use the wireless POS just as they come from the bank, already setup and with nfc turned on. Walmart installs its own software on the wireless POS and turns off nfc.
 
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I'd absolutely believe it.

I've had clients with very small business on the wrong end of similar power plays by other small businesses. Major players and big businesses do it all the time.
If I was paranoid, which I am not, I would have thought that Samsung "lobbied" (bribed) the regulators to delay Apple Pay since it should not have taken that many years just to decide whether something like this violated local laws.

Samsung!? Having political power in South Korea?

UNIMAGINABLE.
/S
 
You do realize that’s entirely Walmart’s decision not to support Apple Pay, right?

Entirely true. But you do realize the reason they’re not supporting it is because they want you to use their app with their QR code based system so they’re in full possession of all analytics and have actual credit card numbers tied to identifiable people.

All things Apple Pay doesn’t allow (except the in-app bit which is fine, great actually.)

I’m not saying it’s a good or bad thing, I personally prefer Apple Pay, but be aware of the reasons. There’s a reason why it’s only the biggest companies that still insist you use your credit card directly one way or another.
 
Entirely true. But you do realize the reason they’re not supporting it is because they want you to use their app with their QR code based system so they’re in full possession of all analytics and have actual credit card numbers tied to identifiable people.

All things Apple Pay doesn’t allow (except the in-app bit which is fine, great actually.)

I’m not saying it’s a good or bad thing, I personally prefer Apple Pay, but be aware of the reasons. There’s a reason why it’s only the biggest companies that still insist you use your credit card directly one way or another.
Think they might be barking up the wrong tree. Retailers can already track you from your reward number (which is why major retailers such as target and vons/alberstons/safeway have added Apple Pay and Samsung Pay, add target circle before you pay for .50 off! and they have all your info).

Walmart is dragging it's feet and losing the battle as a result. Retail specific credit cards were a treasure trove of information, but seem to be a part of a long forgotten era. Walmart needs to cut its losses and collect the information they can get, because they are falling behind other major retailers with their approach. Their target demographic doesn't want to jump through hoops to pay.
 
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Think they might be barking up the wrong tree. Retailers can already track you from your reward number (which is why major retailers such as target and vons/alberstons/safeway have added Apple Pay and Samsung Pay, add target circle before you pay for .50 off! and they have all your info).

Walmart is dragging it's feet and losing the battle as a result. Retail specific credit cards were a treasure trove of information, but seem to be a part of a long forgotten era. Walmart needs to cut its losses and collect the information they can get, because they are falling behind other major retailers with their approach. Their target demographic doesn't want to jump through hoops to pay.

Not sure I agree but you make an interesting point about target demographic. It’s probably the reason they use a QR code based system, because even the cheapest phones have a camera, but not all of them have NFC.
 
As someone living in Korea who's very happy to have Apple Pay working, let me comment on a few of the posts.

Interesting is the only card accepted is from the same company they partnered with for Apple Car (Hyundai).
Hyundai was broken up into multiple conglomerates two decades ago during Asian financial crisis and there are multiple separate companies operating under "Hyundai" name. But interestingly enough, Hyundai Card is actually part of the Hyundai Motor Group. So while it's not the same company, it's a company under the same umbrella.

I thought contactless was quite common in Korea?
Yes, but either it uses the MST (Magnetic Secure Transmission) technology used heavily by Samsung Phones under the "Samsung Pay" brand, or a variety of QR Code based payments (e.g. Kakao Pay, Naver, Pay, etc.). NFC payments never took off in Korea until now due to the prevalence of Samsung phones and MST.

Finally! been waiting, thought it was coming with 16.4 so this is great news. The only downside is it's hyundai card 🥲. Gonna have to wait hopefully not too long for hana, kookmin, shinhan, and woori banks the major banks to get it their side working with applepay. The biggest thing will be having transportation working with t money and cashbee. Like taiwan, japan(suica and posmo).
Agreed. So far, Shinhan and KB (Kookmin) seem to be warming up to the idea.

Does it work on the metro/subway?
Not yet. Public transport payment system standard is a bit different in Korea, and some sort of agreement needs to be reached between Apple and the service providers which are separate from the credit card / banking companies... namely T-Money and Cashbee. Busan subway seems to be considering opening up the EMV Contactless function to the gates so that Apple Pay can be used, though.

Isn’t S.Korea on the WeChat/Alipay system?
No. Those are Chinese payment systems and are mostly ignored because there are domestic equivalents, namely Kakao Pay and Naver Pay.


Anyways, I've tried out Apple Pay on a local convenience store during lunch break. Seems to work fairly well.
 
If I was paranoid, which I am not, I would have thought that Samsung "lobbied" (bribed) the regulators to delay Apple Pay since it should not have taken that many years just to decide whether something like this violated local laws
you are not paranoid
 
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It is just a start. Only about 10% of all offline shops accept Apple Pay as of now. Once Apple can work with public transportation service groups to bring Apple Pay to public transportation, it will fly. Hopefully that will happen soon.
 
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After a years-long wait, Apple Pay today launched in South Korea, allowing those living in the country to use Apple's payment system to make contactless payments using the iPhone or Apple Watch.

Apple-Pay-Feature.jpg

Apple has been working to bring Apple Pay to South Korea since 2017, but Apple was unable to be registered as an electronic financial business operator because regulators were investigating whether Apple Pay violated local regulations and laws. Apple was finally approved by financial regulators back in February.

NFC terminal adoption was also low in retail stores in South Korea around when Apple Pay first launched, which continues to be an issue. There are more NFC terminals than there were six years ago, but The Korea Times suggests Apple Pay will face "significant challenges" in Korea due to the limited number of NFC terminals.

With Apple Pay, credit and debit cards from supported banks in South Korea can be added to the iPhone and Apple Watch to make purchases at stores that have contactless payment options. Apple Pay cards can be used on iPhone, iPad, and Mac to make Apple Pay purchases on the web.

At the current time, Apple Pay is limited to Hyundai Card users, which could see South Koreans interested in using the service picking up a Hyundai Card. No other card companies are participating in Apple Pay as of yet.

Article Link: Apple Pay Launches in South Korea
Yeah good luck succeeding in South Korea as

1) every major player in the infrastructure is heavily involved with Samsung (as they’re a massive general engineering company and not only consumer tech). They’d prefer to not stir up that relationship.

2) like most countries they’re very nationalistic and would generally champion local brands

But hey I could be wrong.
 
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I'd absolutely believe it.

I've had clients with very small business on the wrong end of similar power plays by other small businesses. Major players and big businesses do it all the time.
Yup it’s the same in all countries with big local companies. USA as well. It’s just part of the game, the unofficial home market advantages.
 
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