Apple Pay will 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, the credit card service unit of Hyundai Motor Group.

The launch of Apple Pay will be interesting to watch, as it will compete against Samsung Pay in the latter’s home market. Naturally, until now, Samsung Pay has dominated the mobile payments space in South Korea, with a market share of around 80%.

Last week, the Korea 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 consumers or merchants any fees. Therefore, Hyundai Card is now eager to realize it.

South Korea will be Apple Pay’s 10th Asia-Pacific territory. Currently, it is already available in Australia, New Zealand, China, Hong Kong, Macao, Japan, Malaysia, Singapore, and Taiwan.

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