Rapyd launches payment capabilities in South Korea

Tuesday 27 October 2020 13:06 CET | News

UK-based fintech Rapyd has launched its ‘all-in-one’ payment capabilities in South Korea.

By partnering with Korean payment service providers, KCP, PayLetter, and others, Rapyd now offers access to a suite of South Korean payment options across international and local cards (Hyundai Card, Shinhan Card, Samsung Card), mobile wallets (Kakao Pay, Samsung Pay, Toss, and PAYCO), bank transfers, vouchers, and carrier billing.

According to Rapyd’s guide, 36% of South Koreans chose mobile wallet payments as their preferred payment method. Kakao Pay was used by 41% of respondents, followed by Samsung Pay (32%), PAYCO (21%), and Toss (21%). Local cards such as Shinhan, KB, Hyundai, and Samsung Card are the second most preferred payment method in the country, chosen by 30% of respondents.

Rapyd now offers a variety of Korean payment methods identified in the research. The rollout of South Korea payments capabilities will enable international companies to provide localised payment experiences catered to the expectations of Korean consumers.

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Keywords: Rapyd, South Korea, payments , cards, mobile wallets, bank transfers, vouchers, payment service providers
Categories: Payments & Commerce
Countries: Korea, Republic of
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