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[Alpha Biz=(Chicago) Reporter Paul Lee] Apple Pay, Apple's short-range wireless communication (NFC) payment service, is set to be released in Korea on the 21st of this month. It has been about a month and a half since the Financial Services Commission decided to allow Apple Pay to be released last month.
According to the industry on the 13th, Apple and Hyundai Card are scheduled to launch Apple Pay in Korea on the 21st.
This is only a month and a half after the Financial Services Commission finally allowed the introduction of the service after reviewing whether Apple Pay violated the law in early February, and Apple officially announced its launch in Korea. Earlier, the Financial Services Commission formalized the permission to use Apple Pay in Korea, saying, "Considering the relevant laws and the interpretation of the laws, we have confirmed that credit card companies can introduce the Apple Pay service by complying with the necessary procedures."
However, it seems that only Hyundai Card users will be able to use Apple Pay for the time being immediately after its launch.
When Apple Pay is released, Hyundai Card users will be able to register Hyundai Card issued in South Korea on Apple devices such as the iPhone and Apple Watch and pay with Apple Pay without a real card.
AlphaBIZ 폴리(hoondork1977@alphabiz.co.kr)
