The National Tax Service said Tuesday that it has started its electronic billing and payment service to meet the growing use of non-contact payment systems.
WeChat Pay can be used through Korea’s Zero Pay in the Seoul and Busan area starting on Nov. 28, the governments of Seoul and Busan announced Wednesday.
Naver Pay can now be used in offline locations, potentially shaking up the mobile payment market
Credit card payments by visitors to Jeju Island reached an all-time high in 2019, with domestic travelers and individual Chinese tourists driving the rebound.
Kakao Bank wants teens to use its service and is offering a chargeable payment service for people too young to open bank accounts.
Kakao’s mobile payment service Kakao Pay is preparing to go public by the first half of next year confirmed the company's spokesperson on Monday.
Toss operator Viva Republica has released its own payment gateway, allowing subscribers to make purchases online using its app. It took over mobile operator LG U+'s payment gateway in December to establish its own service, Toss Payment.
The Financial Services Commission (FSC) on July 26 announced a major overhaul of digital finance regulations in Korea, which have changed little since 2006.
Two mobile payment giants, Kakao Pay and Toss, recently announced that they would take stronger responsibility for fraudulent payments and promised to offer up-front compensation.
Naver has been accused of violating the Attorney-at-Law Act. Since March, Naver has been collecting commission fees from people for linking them with lawyers registered on its Q. and A. platform Jisik iN.