South Korea Mobile Payment Trends

 

South Korea’s payments market faced a turning point in 2015 with the emergence of smart pay, a simplified form of mobile payments made using smartphones. Celent reviews the status of the South Korean smart pay market and forecasts future trends. At the moment, smart pay providers have their sights on specific demographics. However, each smart pay firm is also looking to expand its customer base. If smart pay providers have not clearly articulated their purpose and carved out a market space, then they risk being swept away in the maelstrom.

KyongSun Kong

Join KyongSun as she elaborates on the South Korea market’s mobile payment trends and forecasts:

  • Mobile payment market in South Korea
  • Current status of South Korea’s mobile payment market
  • Smart pay providers in South Korea
  • Case study (Kakao Pay which has a strong position in online payment area and Samsung Pay which has a strong position in offline payment/ contactless payment area)
  • Future trends of South Korea’s smart pay market.

KyongSun is an analyst with Celent’s Asian Financial Services group and is based in the firm’s Seoul office. Her areas of expertise include mobile payments and other innovative financial services and delivery channels, retail brokerage, and the Korean financial services industry. Previously, KyongSun worked as a translator, interpreter, and editor focused on financial services, including the banking, capital markets, and insurance industries. KyongSun received a Bachelor of Arts degree in British and American studies and intercultural studies from the Kyoto University of Foreign Studies. She is fluent in Japanese, English, and Korean.

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