Shulou(Shulou.com)11/24 Report--

CTOnews.com, December 5 (Xinhua)-- Apple's Apple Pay is about to enter the South Korean market, but according to the latest report, the launch of the Apple Pay in South Korea will be suspended due to a request from South Korea's Financial Regulatory Authority to review its terms.

According to Naver, South Korea's Ministry of Financial Services has revised the terms of the Apple Pay, but "there are some things that need to be considered separately" and need to be "further discussed with the department." Naver believes the launch of Apple's Apple Pay will be postponed to late December or early January 2023 in South Korea.

CTOnews.com learned that back in October, the Korea Herald reported that some users could access the Apple Pay terms when trying to add Hyundai Card (Hyundai Motor Group's credit card) to the Apple Wallet app. The report also said at the time that Apple Pay would be launched in South Korea in November or at least in early December, according to leaked documents.

It is unclear whether Apple Pay will launch exclusive Hyundai cards in South Korea and whether there will be other compatible cards. Interestingly, the Naver report also mentioned that the delay in the launch of Apple Pay in South Korea may not have much impact, as there are not many payment terminals in South Korea that support NFC.

Apple Apple Pay users can shop in stores or online without using physical credit or debit cards. Users need to place the iPhone or Apple Watch close to the NFC card reader, or click to confirm the transaction online.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.