Apple Pay was expected to launch in South Korea at the end of November. However, the country’s Finacial Supervisory Service said it needed to discuss a few questions before making Apple’s payment system available in South Korea.
According to a blog post on Naver (via Tommy Boi), Apple Pay could arrive in the country by the end of this month “at the earliest” or early next year “at the latest.” The publication says that the country’s lack of NFC terminal infrastructure could also be a problem for Apple even when its payment service launches.
When Apple Pay becomes available, Hyundai Card will be “the sole service provider,” as it’s unclear whether more banks or cards will accept Apple’s payment system.
Back in October, The Korea Herold reported that leaked terms and conditions showed that Hyundai customers would be able to start using Apple Pay as soon as November or December.
“The purpose of this document is to regulate the conditions and procedures of the rights between our customers and the company, obligations, and responsibility, and more for the usage of Apple Pay services provided by Hyundai Card Corporation for our registered customers. The terms and conditions will officially become effective from Nov. 30, 2022.”
While Apple usually makes deals with a few banks before launching Apple Pay in a country, this will be the only debit and credit cards available to be added to the service in the country.
A few months ago, Apple added its payment system in Qatar ahead of the Fifa World Cup. The service works with several different banks. Also, this year, Apple Pay was made available in Malaysia, Moldova, Argentina, Peru, and Armenia. Chile, rumored to receive the service for a while, is still nowhere to support it.
BGR will report whether Apple’s payment system has started working in South Korea and which banks and cards will support it.
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