Ahead of launch, Apple Pay receives mixed reaction in South Korea

As Apple Pay will likely land in South Korea later this month, the long-awaited arrival of the tech giant’s mobile payment service is drawing mixed views on the industrial landscape of the local mobile payment market dominated by Samsung Pay provided by Samsung Electronics.

According to industry sources, Hyundai Card, a local credit card firm under the wing of Hyundai Motor Group, will provide the Apple Pay service from the end of November under a one-year exclusive contract with Apple, reports Yonhao news agency.

Launched in the US in 2014, Apple Pay became the second-most popular digital payment system in the world with over a total of $6 trillion worth of transactions for 2021, following Visa with $10 trillion.