MASSIVE Samsung Galaxy deals during Discover Samsung!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Apple Pay is now available in Samsung’s home country

Pay
By 

Last updated: March 21st, 2023 at 11:05 UTC+01:00

Samsung Pay, which is among the top three mobile payment services in South Korea, now has a new rival. As expected, Apple has launched Apple Pay in the country and will now compete with Samsung Pay, Kakao Pay, and Naver Pay, among others. However, Apple has been quite slow in rolling out its mobile payment service.

Apple Pay will allow iPhone and Apple Watch users to pay using NFC through their devices. Apple is currently collaborating with Hyundai Card for now. This service is similar to Samsung Pay, which currently has the upper hand as it allows payments through NFC, QR codes, and MST (which imitates cards with magnetic stripes). According to a report, less than 10% of stores in the country support NFC-based payments, so it remains to be seen how successful Apple Pay will be in South Korea.

Apparently, it costs a store owner around KRW 150,000 (around $115) to install a PoS (Point of Sale) device that supports NFC payments. However, all PoS machines support magnetic card swipes, so Samsung Pay is compatible with most payment devices in stores.

Unlike Samsung Pay, Apple Pay charges a fee of 0.1%-0.15% on consumers, stores, and even credit card companies. Some reports claim that even Samsung Pay, Naver Pay, and Kakao Pay may start charging a similar fee for their mobile payment services. However, nothing is concrete as of now. Since over 80% of smartphone users in Korea use a Samsung smartphone, it remains to be seen how successful Apple will be with Apple Pay.

Pay AppleSamsung PaySouth Korea
Load comments

You might also like

Samsung’s sales hit an all time low in China in Q1 2023

Samsung’s sales hit an all time low in China in Q1 2023

Amidst deepening issues between China and the US, Samsung Electronics’ China sales have shrunk significantly, hitting an all-time low in Q1 2023. As per the latest quarterly report, the proportion of Samsung’s China sales has dropped to a single digit, which isn’t a good sign for the South Korean technology giant. In the quarterly report, […]

  • By Sagar Naresh
  • 14 hours ago
Galaxy Book 3 series is a smashing hit in South Korea

Galaxy Book 3 series is a smashing hit in South Korea

Samsung’s Galaxy Book 3 series, unveiled in January this year, appears to have taken South Korea by storm. Although the company has consistently led the domestic notebook market for 28 consecutive years, the Galaxy Book 3 lineup helped Samsung distance itself from its rivals even more. Indeed, Samsung has been leading the notebook market in […]

  • By Mihai Matei
  • 1 day ago
Samsung’s Tab S6 Lite tablet is getting the May 2023 update

Samsung’s Tab S6 Lite tablet is getting the May 2023 update

It’s mid-May, and another Samsung tablet is now joining in on this month’s security patch. The Galaxy Tab S6 Lite in Korea is now getting the May 2023 update, and in theory, it shouldn’t take long for the update to reach the Lite tablet in more markets. In Korea, the update is available for the […]

  • By Mihai Matei
  • 1 day ago
As Apple hoards TSMC’s 90% 3nm chip capacity, others could turn to Samsung for chips

As Apple hoards TSMC’s 90% 3nm chip capacity, others could turn to Samsung for chips

Samsung Foundry and TSMC are the only companies in the world capable of making chips using advanced fabrication processes. While Samsung Foundry started the production of semiconductor chips using its first-generation 3nm GAA process in the second half of 2022, TSMC has just begun making 3nm chips for Apple. Since Apple has booked almost all […]

  • By Asif Iqbal Shaik
  • 1 day ago
Samsung is making its own ChatGPT-like AI to avoid company leaks

Samsung is making its own ChatGPT-like AI to avoid company leaks

Samsung has reportedly partnered with Naver to build a generative AI platform similar to ChatGPT. However, unlike ChatGPT, this AI tool will reportedly be destined to be used in-house by Samsung employees. Samsung recently learned the dangers of using ChatGPT within a corporate environment the hard way. Bits of the company’s sensitive semiconductor-related information leaked […]

  • By Mihai Matei
  • 2 days ago
Samsung launches flagship store in South Korea to counter Apple

Samsung launches flagship store in South Korea to counter Apple

Over the past few months, Apple started focusing on the South Korean market. First, it launched the Apple Store in Gangnam, Seoul, South Korea, and then it launched the Apple Pay service in the country to rival Samsung Pay. To counter Apple’s moves, Samsung has launched its own flagship store in Gangnam. Samsung Gangnam is […]

  • By Asif Iqbal Shaik
  • 2 days ago