South Korea’s online payment service providers are setting up near-field communication (NFC) devices compatible with Apple Pay, which is expected to be introduced in the country later this month.
Less than 10 percent of the 2.9 million stores in South Korea that accept credit cards have an NFC device compatible with Apple Pay.
The South Korean payment industry closely monitors the speed of distributing payment devices with NFC functions as it determines Apple Pay’s success.
NHN KCP Co. recently posted “Apple Pay Accepted” on its website to illustrate that its kiosks are compatible with NFC payments.
It has since taken down the post to avoid confusion.
Samsung Electronics Co., which operates Samsung Pay, is emphasizing mobile driver’s license and student license features that are unavailable on Apple Pay.
In the US, Apple Pay already has a “tap-to-pay” system, which allows payments by tapping the buyer’s iPhone against the store owner’s iPhone, raising complaints that South Korea might be too late to respond to Apple Pay’s features.
