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South Korea: Tech firms unite to file a complaint over Apple Pay

By  |  September 14, 2016

A group of South Korean financial services providers are following in the footsteps of four Australian banks by preparing to take action against Apple in a bid to pressurize the technology giant into opening up the NFC technology within its iPhone handsets.

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    Korea NFC, Kona I, Cashbee and Interpay held a meeting last week and are working on submitting a request to the Korea Fair Trade Commission, according to Business Korea.

    “The Korean fintech firms are claiming that Apple’s policy not to open its closed API is denying them NFC-based fintech business opportunities such as simple mobile payment, transportation cards and user identification,” the publication reports.

    It adds that the firms “are planning to further push forward with the plan to appeal to the Fair Trade Commission after legal reviews by holding their second meeting at the end of this month”.

    Full Content: NFC World

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