Google and Apple both appear to be preparing to launch their mobile payment platforms in South Korea, reports The Korea Herald.
Google is said to have been working with domestic card companies including Shinhan, KB Kookmin, Lotte, and Hyundai to develop the country’s NFC payment infrastructure – which is not extensive at present – in anticipation of the launch of Android Pay. Meanwhile, Apple executives reportedly met with “financial authorities” in the country in November, and indicated that it would work with domestic credit card companies to prepare the way for Apple Pay.
That suggests Apple is well behind its rival in terms of how quickly the companies can launch their mPayment platforms in South Korea; but whenever they launch, they’re likely to face stiff competition from Samsung Pay. That platform’s use of MST technology allows it to emulate traditional swipe-based payment cards, enabling contactless payments even at more tradition payment terminals.
On top of that, Samsung is a beloved brand in its home country of South Korea, and will soon have launched its next major flagship phone there, which is expected to enable iris scanning for payment confirmation on Samsung Pay, a novel feature that could raise some eyebrows among consumers.
Source: The Korea Herald