The news comes after Samsung Card decided to sail away from Samsung Pay, terminating its operations in July 2021. On the other hand, Hyundai Card is willing to extend its contract with Samsung Pay, offering clients an alternative payment method to regular credit card companies.
According to Samsung Electronic officials, credit card companies will only provide the Samsung Pay service after acquiring magnetic secure transmission (MST) licenses starting of 2022, which will lead the burden of fees fall onto the credit card companies for those using a link-type method.
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