Apple Pay is going to compete head-on with Samsung Pay in South Korea
Apple Pay will finally be available in Samsung’s home country of South Korea “in the coming months,” in partnership with Hyundai Card, Hyundai Motor Group’s credit card services unit.
The launch of Apple Pay will be interesting to follow as it will go head to head with Samsung Pay in the latter’s home market. Understandably, Samsung Pay has so far dominated the mobile payment space in South Korea with a market share of around 80%.
Last week, Korea’s Financial Services Commission confirmed that credit card companies in the country are allowed to launch the Apple Pay service on the condition that they do not charge fees to consumers or merchants. That’s why Hyundai Card is now keen to make it happen.
South Korea becomes Apple Pay’s 10th Asia-Pacific region. Right now, it is already available in Australia, New Zealand, China, Hong Kong, Macao, Japan, Malaysia, Singapore and Taiwan.