Apple Pay has finally made its way to South Korea, nearly eight years after it was first launched. Samsung’s launch of the service in its home country has been quite the topic of late, and today Apple confirmed the move in the Korean-language version of its press release announcing the new yellow iPhone 14 and iPhone 14 Plus models.
The relevant paragraph, machine translated, looks like this:
Additionally, with Apple about to launch Apple Pay in South Korea, Korean users will be able to make easy, fast, and secure payments using Apple Pay on their iPhones, including the new iPhone Yellow, as well as online merchants and apps. can. .
Apple Pay’s exact launch date is still unknown, but last month South Korea’s Financial Services Commission confirmed that domestic credit card companies are allowed to offer Apple Pay provided they don’t charge. This service has cleared a very important hurdle in that the consumer or merchant bears the fees for it.
Perhaps it will come as no surprise to hear that Samsung Pay has completely dominated the mobile payments space in the domestic market, achieving a market share of around 80%. This definitely eats into Apple Pay.
iOS 16.4, which is currently in beta testing, has several references to Apple Pay in South Korea, so it’s possible the service will officially launch in South Korea when this update hits general release later this month or early April. There is a possibility
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