South Korea has allowed Apple Pay to land in South Korea, and local digital payment companies have entered a state of preparation.

(Reuters)

[Financial Channel/Comprehensive Report] South Korea’s Financial Supervisory Service (FSS) recently confirmed that Apple Pay has been approved to land in South Korea, that is to say, now it’s up to Apple to decide when to launch it. In the update, some clues were found.

According to foreign media "9to5mac" reports, in the second beta version of iOS 16.4, they noticed that there is relevant code, showing that the Apple system is ready to provide Apple Pay services to South Korean users, and the official version of iOS 16.4 is expected to be released this year. Released in spring.

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Since Apple Pay came out in 2014, it has been unable to be used in South Korea. Apple also actively sought to introduce Apple Pay into South Korea's financial service system as early as 2017. It was not until February this year that South Korea approved the use of Apple Pay.

Although the South Korean market is currently dominated by Samsung Pay, a subsidiary of Samsung Electronics, the influence of Apple Pay in countries around the world is obvious to all, and local digital payment companies in South Korea have entered a state of preparation.

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