First Day of Apple Pay in South Korea
On March 21, Apple Pay, a near field communication (NFC) payment service, launched its domestic service in Korea. Many users posted "certification messages" on social media to register their cards with Apple Pay, which allows them to make payments with their mobile phones without using physical cards at stores with compatible terminals. Currently, Apple Pay is available at various offline merchants such as convenience stores, department stores, and web pages and mobile applications. Despite the excitement surrounding Apple Pay's launch, only about 10% of stores in Korea have installed NFC terminals, according to the credit card industry. Furthermore, some credit cards, including those affiliated with Amex, are not yet supported by Apple Pay. However, many users have already registered their cards and are using the service. At a cafe in Seoul, a university student expressed his enthusiasm for Apple Pay, saying that he had already registered his Hyundai check card issued si...