After years of delays with the regulatory process, Apple has finally launched Apple Pay in South Korea. As with other countries, the Apple Pay payments and wallet services in Korea can be used on iPhone, Apple Watch, iPad and Mac and let customers pay at retail outlets, restaurants and cafes, as well as on the internet and within apps.
“Apple Pay is available from today in South Korea,” Duncan Olby, who is the head of Apple Pay Wallet and Payments for International Markets, spoke at a news conference in Seoul. “Users can add their credit and debit cards on Wallet for their iPhone, Apple Watch, iPad and Mac.”
Apple has been working to bring its payments system into South Korea since 2017. The plan was initially delayed due to the fact that the company was not able to register for an electronic business owner in South Korea. In the following months, local regulators analyzed attentively whether the company’s payment system was in violation of Korean payment regulations, which caused it to get put further back.
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As per the company’s statement, only those who have Visa, Mastercard, and local debit and credit MasterCards that are issued through Hyundai Card can add their cards to Apple Pay currently.
Hyundai Card was originally in talks to sign a one-year exclusive relationship in conjunction with Apple Pay in Korea, however, that agreement did not take place. But, none of the other local card providers seem to have been signed up to Apple Pay so far, thus Hyundai Card seems to have received what it wanted, at least, for the time being.
