Korea’s mobile payment market diversifies as rivalry grows
MONDAY, JANUARY 28, 2019
SOUTH KOREA is increasingly going walletless, as more people are opting to use services that allow payments to be made easily with just smartphones both offline and online.
THE BANKING sector must change its business model in an era of digital disruption in which non-banks can perform the same business services, according to Daniel Doderlein, the chief executive officer and founder of Auka, the first mobile payment company in Scandinavia.
Mobile payment in China is still growing, especially in rural areas, said Zhu Hong Jun, director of PR Ant Financial Service Group, which operates Alipay, China’s most popular online payment platform.