South Korea Mobile Payment Market Share

Market Share of South Korea Mobile Payment Industry

The South Korea Mobile Payment market is highly competitive and has several major players. In terms of market share, few of the major players currently dominate the market. However, with the extensive adoption of online E-commerce platforms for retail shopping and increasing adoption of contact-less transactions, many companies are increasing their market presence by securing new contracts and tapping new markets.

• March 2023 - In South Korea, Samsung, and Naver Financial introduced an integrated mobile payments solution that allows Naver Pay users to use their smartphones to make in-person purchases at shops that accept Samsung Pay and Samsung Pay users to make online purchases at merchants that accept Naver Pay.
• March 2023 - In a bid to expand its digital payment services, Apple launched Apple Pay in South Korea. With the launch of Apple Pay in the country, the company is looking to tap into the growing popularity of digital payments in the country.

South Korea Mobile Payment Market Leaders

1. Kakao Pay

2. Naver Corporation ( Naver Pay)

3. Samsung Electronics (Samsung Pay)

4. Toss

5. PayCo

*Disclaimer: Major Players sorted in no particular order