{"id":21011,"date":"2022-12-05T15:30:23","date_gmt":"2022-12-05T15:30:23","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/12\/05\/apple-pay-south-korea-launch-delayed-by-regulators\/"},"modified":"2022-12-05T15:30:23","modified_gmt":"2022-12-05T15:30:23","slug":"apple-pay-south-korea-launch-delayed-by-regulators","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/12\/05\/apple-pay-south-korea-launch-delayed-by-regulators\/","title":{"rendered":"Apple Pay South Korea launch delayed by regulators"},"content":{"rendered":"

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The launch of Apple Pay<\/a> in South Korea continues to slowly roll onwards, with the latest delay in proceedings forced at the last-minute by a regulatory review. <\/p>\n

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Apple’s mobile payments platform has yet to arrive in South Korea, and was expected to become available in late November<\/a>, However, it appears the country’s Financial Supervisory Service has delayed the launch further into the future. <\/p>\n<\/div>\n

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In a filing by the FSS on Monday, Apple had managed to pass the “ninth ridge” to the Korean market, according to a post<\/a> on Naver<\/em>. While a review of the terms and conditions of Apple Pay has completed, not everything has been finalized. <\/p>\n<\/div>\n

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The FSS says there is something they are looking into as part of the review, which needs to be completed before the review ends. <\/p>\n<\/div>\n

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Despite the regulatory slowness, there is still an expectation for Apple Pay to arrive in South Korea by the end of December at the earliest, or in early 2023. <\/p>\n<\/div>\n

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It is thought that the launch into South Korea will be via one partner, with Hyundai Card<\/a> being the only financial service to offer it in the country. Hyundai Card will be the sole and exclusive provider for one year post-launch, before other banks and institutions can enable it for their services. <\/p>\n<\/div>\n

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Apple has previously worked to prepare for the launch, including a change to its terms of service<\/a> for the country in September to include lines about using Apple Pay to make payments from cards stored in the Wallet app. <\/p>\n<\/div><\/div>\n