In terms of fees, Maybank has stated that the merchant discount rate (MDR) for Apple Pay acceptance is the same as the existing MDR for Amex, Visa or Mastercard debit or credit cards. Most if not all new card terminals in Malaysia are able to accept contactless Visa Paywave and Mastercard PayPass. The launch of Apple Pay in Malaysia shows that we are much more ready in terms of NFC payment acceptance. It added that Apple Pay is notorious for charging high fees to cardholders even overseas. Most newer Samsung smartphones including the Galaxy S21 series and above only support NFC for Samsung Pay.īesides the lack of NFC terminals, the report stated that Apple Pay’s high fees could also be a potential barrier. This explains why Samsung Pay was initially released with support for both NFC and MST payments. According to a report by Naver last year, NFC payment adoption is still quite low in South Korea and most locally issued credit cards are still using Magnetic Secure Transmission (MST) and chip-based payments. Why did it take Apple so long to launch Apple Pay in South Korea?Īpple Pay was introduced 8 years ago during the launch of the iPhone 6 and it is interesting that it took Apple so long to launch it in South Korea. Late last year, there were ads spotted promoting that Hyundai Card will be Apple Pay enabled on 30th November. It was previously rumoured that Hyundai Card will get a one-year exclusive but it is believed that it’s no longer the case for the upcoming launch. jnDSSpLHcv- Tommy Boi November 29, 2022ĭespite the announcement, Apple has not provided the actual Apple Pay availability date and supported credit or debit cards for South Korea.
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