After making its debut in Belgium and Canada among other 10 countries, Android Pay is set to launch in Korea in August this year. The launch, which was originally scheduled for May this year, has been postponed due to some technical issues.
The mobile payment market is growing rapidly, with Samsung also making its entry into different unexplored markets like India. Recently, LG also announced its mobile payment service that goes by the moniker LG PAY.
LG PAY was recently launched in South Korea and similar to Samsung devices is available only on limited devices. This is where Android Pay has edge over other OEMs, since it works across devices from different brands, be it Samsung or LG.
However, when making a purchase, Android Pay requires a dedicated reader, based on NFC, which might pose some problem since offline stores in South Korea still use magnetic card readers.
On the bright side, Google is in talks with all the eight credit card companies of Korea for a joint collaboration.
Source: Business Korea