Following a lengthy wait, Apple Pay has arrived in South Korea, enabling locals to utilize the company’s payment platform to make contactless purchases using their iPhone or Apple Watch.
Since 2017, Apple has been attempting to expand Apple Pay to South Korea. Even yet, Apple could not register as an electronic financial business operator because authorities were looking into whether Apple Pay had broken any local laws and regulations. In February, financial authorities finally gave their approval to Apple.
The poor adoption of NFC terminals in South Korean retail establishments at the time of the initial launch of Apple Pay is still a problem. Compared to six years ago, there are more NFC terminals. Even still, The Korea Times asserts that the scarcity of NFC terminals in Korea will provide “major obstacles” for Apple Pay.
Credit and debit cards from South Korean banks supported by Apple Pay can be added to the iPhone and Apple Watch to make purchases at merchants that accept contactless payments. Apple Pay cards can also be used on iPhone, iPad, and Mac devices to make Apple Pay transactions online.
Apple Pay is accepted in many establishments in South Korea, including McDonald’s, Shake Shack, Lotteria, Krispy Kreme, Gong Cha, Lotte, HomePlus, Hollys, and more, according to the Apple Pay website there.
Since Apple Pay is only available to Hyundai Card holders at the moment, South Koreans who are interested in using the service might decide to get a Hyundai Card instead. As of right now, no other card issuers accept Apple Pay.