Apple Pay reportedly to launch in South Korea

Thursday 30 October 2014 10:40 CET | News

Apple is reportedly looking into the possibility of moving into Korea`s electronic payment market, online media outlet Korea Bizwire reports.

According to the source, it is reported that Apple has inquired with the Financial Supervisory Service about the electronic payment business licensing and security suitability evaluation procedure. Moreover, according to financial industry sources, officials from Apple Korea have visited the financial regulator recently and asked about domestic registration of its new mobile payment service Apple Pay.

A Financial Supervisory Service official also said, β€œIt seems Apple wanted to find out the feasibility of moving into the Korean e-payment market with its new service. But there has been no progress after the inquiry. As for security suitability evaluation, no progress has been made either.”

In recent news, Alibaba Group executive chairman Jack Ma has reportedly unveiled that hes open to working with Apple on mobile payments.

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Keywords: Apple, South Korea, Apple Pay, electronic, payment, market, Financial Supervisory Service, mobile payment
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce