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Roman Tazetdinov, the Head of Geo Expansion at Worldline’s Digital Commerce division, talks about South Korea, elaborating on the main ecommerce challenges and opportunities in 'the land of the morning calm'.
cross-border payments, ecommerce, local payment method, marketplace, PSP
China-based UnionPay International (UPI) has partnered with the Korea Easy Payment Foundation and BC Card to enable UnionPay QR code payments for ZeroPay merchants.
partnership, payments , mobile payments, e-wallet, QR code, QR payments, payment methods
Shinhan Bank has acquired a minority stake in a local information and communication technology solutions and services provider to improve its partnership for development of a new corporate banking platform.
acquisition, banks, ecommerce, data
CBDC, blockchain, central bank
Shinhan Bank has built a pilot platform for a potential South Korean central bank digital currency (CBDC) with assistance from LG CNS.
blockchain, CBDC, digital currency, central bank, cryptocurrency
Shinhan Bank, a large commercial bank in South Korea, has announced plans to offer digital asset custody services.
CBDCs, South Korea, decentralised finance, Shinhan Bank, digital assets, custody services, crypto
UK-based fintech Rapyd has launched its ‘all-in-one’ payment capabilities in South Korea.
Rapyd, South Korea, payments , cards, mobile wallets, bank transfers, vouchers, payment service providers
MoneyGram, partnership, Korea, fintech, E9Pay, cross-border, P2P, payments , money transfer, network, Southeast Asia, Russia, Commonwealth of Independent States, CIS, Woori Bank, Shinhan Bank, Korea Post, Kyongnam Bank, Sentbe, Overseas Remittance Business No. 1 License, Ministry of Economy and Finance, MOEF, Nepal, Cambodia, Sri Lanka, Vietnam, Philippines, Indonesia, China
Bithumb Korea has announced its engagement in the blockchain-based, digital identification organisation, MyID Alliance.
Bithumb Korea, cryptocurrency exchange, blockchain, digital identity, data protection, authentication, Korea, MyID Alliance, DID
South Korea has launched an open banking service in a move to boost convenience and lower transaction costs for customers.
South Korea, Open Banking, open banking service, Financial Services Commission, KB Kookmin Bank, Shinhan Bank, Woori Bank, Keb Hana Bank, Viiva Republica, Toss
South Korea’s commercial banks will formally launch Open Banking services by the end of 2019, following a 10-bank pilot to test the system in October 2019, according to Regulation Asia.
South Korea, Open Banking, bank, mobile application
Shinhan Bank and the State Bank of Vietnam have announced that they are planning to work together on an e-Know Your Customer (e-KYC) system.
Shinhan Bank, mobile banking, Southeast Asia, e-KYC, Know Your Customer, Indonesia, Vietnam, central bank, identification, financial services, face identification
South Korea has announced it is launching 10-bank pilot of Open Banking system, according to Regulation Asia.
South Korea, Open Banking, banks, innovation, regulation, fintech
Four more major institutions including the Shinhan and NH Nonghyup banks have joined a South Korean decentralised identity initiative.
blockchain, descentralisation, banks, South Korea, Samsung Electronics, Keb Hana Bank, Woori Bank
Xoom, PayPal’s international money transfer service, has launched a money transfer service to bank accounts in South Korea.
PayPal, Xoom, remittances, bank deposit, South Korea
Shinhan, a South Korea- based bank, has been using blockchain technology to speed up the approval process for loan products.
Shinhan, Soth Korea, blockchain, loans, document verification, financial services
Union Bank of the Philippines (UnionBank) and Visa have started fast-tracking cross-border bank-to-bank (B2B) payments from SMEs.
Visa, UnionBank, SME, cross-border transactions, Commerce Bank, Shinhan Bank, Sberbank, United Overseas Bank
Union Bank of the Philippines has become the first bank in the world to pilot test with global payments solutions firm Visa.
UnionBank, Visa, B2B payments, cross-border payments, blockchain, cryptocurrency
South Korean financial authorities have been inspecting six local banks that offer virtual currency accounts to institutions, amid concerns the increasing use of such assets could lead to a surge in crime.
NH Bank, Industrial Bank of Korea, Shinhan Bank, Kookmin Bank, Woori Bank, Korea Development Bank, Bitcoin, crypto, cryptocurrency, AML
A group of Japanese banks and South Korean banks have teamed up with Ripple for a new blockchain pilot.
xCurrent, Ripple, RippleNet, banks, cross border payments, XRP, SBI Ripple Asia