South Korean companies push Apple to open up Apple Pay technology

Friday 16 September 2016 14:35 CET | News

A group of South Korean companies have taken take action against Apple to push the technology provider into opening up the NFC technology within its iPhone handsets. 

Recently, Australian banks have teamed up to collectively negotiate with Apple to install their own electronic payments applications on iPhones, though Apple has unveiled that it does not want to share its Apple Pay wireless payment technology.

Korea NFC, Kona I, Cashbee and Interpay held a meeting at the beginning of September 2016, and are working on submitting a request to the Korea Fair Trade Commission. The reason behind their request is that Apple’s policy not to open its closed API denies them NFC-based fintech business opportunities such as mobile payment, transportation cards and user identification.

After the commission reviews their request, the companies plan to hold another meeting by the end of September 2016. Reports emerged that Apple was facing hurdles in launching Apple Pay in Korea in July 2015, according to NFC World. 

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Keywords: Korea NFC, Kona I, Cashbee, Interpay, Apple Pay, mobile payments, NFC, security, API, South Korea
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce