Apple Pay is lastly coming to South Korea beginning on Tuesday, March 21 however just one card will probably be supported at launch. What’s extra, some trade watchers are involved that there will not be sufficient assist amongst retailers to make the characteristic take off.
Apple Pay will enable folks to make contactless funds utilizing an iPhone or Apple Watch, but it surely does require that retailers have a supported NFC terminal in place for it to work. And that is not a given.
Significant challenges are anticipated because of the restricted variety of NFC-capable terminals in use all through Korea, though some retailers are already making strikes to make sure that they’re prepared for folks to ask to purchase items utilizing Apple Pay.
A scarcity of NFC
The Korea Times (opens in new tab) stories that Apple Pay will probably be obtainable in Korea inside a matter of hours, however solely for many who use Hyundai Card initially. That card has up to now seen an enormous increase in sign-ups, with Apple Pay assist one of many attainable causes. Sign-ups are up 7.3%, it is reported.
But whether or not Hyundai Card house owners will really have the ability to use Apple Pay of their favourite retailers stays to be seen. The Korea Times stories that Apple Pay “still faces significant challenges in Korea due to the limited number of stores equipped with NFC terminals.” While some shops like Costco, Lotte Mart, and Homeplus are reportedly able to go, others simply have not been in a position to get NFC readers put in shortly sufficient. Ediya and Mega Coffee are two shops stated to be within the strategy of getting NFC terminals prepared, nonetheless.
It’s reported that lower than 10% of the Korean shops able to accepting bank cards have the required NFC terminals in place, and people who do are prone to be franchises somewhat than impartial shops. The report blames that on the excessive value of putting in the required terminals.
Those that may pay with Apple Pay will not want one of the best iPhone or finest Apple Watch to make use of it, fortunately. The Apple Watch Series 1 or later in addition to any iPhone with Face ID or Touch ID (bar the iPhone 5s) are good to go.
