Apple Pay is coming soon to South Korea, but unfortunately, users there will have to wait a bit longer than expected. This is because the local Financial Supervisory Service had to review the terms and conditions of Apple Pay before its official launch in the country, which would have made Apple put the launch in South Korea on hold.
Apple Pay coming to South Korea later than expected
According to Naver (via Twitter user Tommy Boi), the Financial Services Department of South Korea has revised the terms and conditions of Apple Pay. Still, the regulator said that “there is something to look at separately” that requires ” further discussions with the department.”
The delay of the Apple Pay launch in South Korea certainly caught some users by surprise, as Hyundai Card (a credit card owned by Hyundai Motor Group) was even advertising the platform coming to the country on November 30. Now, Naver believes that Apple Pay will be made available in the country in late December or early January 2023.
Back in October, The Korea Herald reported that some users were able to access Apple Pay terms and conditions when they tried to add the Hyundai Card to the Apple Wallet app. At the time, the report also said that Apple Pay would arrive in South Korea in November “or at least early December,” according to leaked documents.
It remains unclear whether Apple Pay will launch in South Korea exclusively with Hyundai Card support or whether there will be other compatible cards as well. Interestingly, the Naver report also mentions that Apple Pay may not be a big hit in the country as there are only a few NFC-enabled payment terminals there.
In August, Apple Pay arrived in Qatar ahead of the FIFA World Cup, which is now taking place in the country. There, Apple Pay works with American Express, Arab Bank, Commercial Bank of Qatar, Doha Bank, and others. The service also went live in Malaysia, Moldova, Argentina, Peru, and Armenia earlier this year.
With Apple Pay, customers can make purchases in stores or online without using a physical credit or debit card. All you need to do is hold your iPhone or Apple Watch near the NFC reader or confirm the transaction online with just a tap. Compatible cards can be added to Apple Pay via the Wallet app.
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