Apple Pay set to launch in Korea

Apple Pay will go live in South Korea with support from Hyundai Card in the next few months, according to local media reports that cite statements from the two companies.

Confirmation of the rollout follows a decision by South Korea’s Financial Services Commission that allows card issuers to add support for Apple Pay provided that they do not charge cardholders or merchants fees for using the service.

Both Apple and Hyundai Card have issued short statements confirming the launch and said that further details will be released “in the coming months”, according to a Nikkei Asia report.

“The announcement comes less than a week after the Financial Services Commission confirmed on Friday that credit card firms are free to launch the Apple Pay service in the country on condition that they do not charge consumers or merchants fees related to the service,” the report explains.

“The financial regulator said that other foreign payment services can also conduct business in the country if they adhere to related laws and regulations.”

Apple Pay began a limited pilot rollout in November 2022 that enabled consumers in South Korea to use the service to make online payments.

Apple Pay went live in Malaysia and Qatar in August 2022 and in Kuwait in October the same year.

• NFCW maintains a list of major OEM Pay systems and the territories where they are live and available for public use.

Apple Pay set to launch in Korea was written by Tom Phillips and published by NFCW.