Apple’s payment platform finally launches in South Korea after several years of waiting.
South Koreans can now use Apple Pay and their Apple Watch or iPhone to make contactless payments for goods. Apple and South Korean regulators have been in talks since 2017, which was delayed due to local officials debating whether Apple Pay violated laws and regulations. In February, legislators finally approved the payment system.
At the time when Apple Pay was initially launched, the region had a low NFC terminal adoption. The Korea Times reported that Apple Pay will have ‘significant challenges’ in this regard. Supported banks will have their debit and credit cards added as options to the Apple Watch and iPhone for store purchases that support them. On the web, Apple Pay can be used on the Mac, iPad, and iPhone.
Apple Pay is currently limited to Hyundai Cards, but other card companies may take an interest and support the platform.
