Science & Tech · Big Tech & Internet · 17 hrs ago
KakaoBank and Toss Bank cards set to join Apple Pay in South Korea
KakaoBank and Toss Bank are preparing to add their debit cards to Apple Pay in South Korea, with services planned this year.
KakaoBank could launch as early as the middle of this month, while the exact timing for both banks has not been confirmed.
Customers would be able to tap an iPhone or Apple Watch to pay after adding their cards to Apple Wallet.
Hyundai Card has been the only card provider for Apple Pay in South Korea since 2023, when it first launched the service there.
The expansion would end Hyundai Card’s exclusivity and give Apple Pay users more card choices.
Toss Bank’s terms review is complete and KakaoBank’s is nearing completion; Shinhan Card, KB Kookmin Card and BC Card are also seeking to join, but their launch timing is unclear.
KakaoBank and Toss Bank are preparing to let customers register their debit cards with Apple Pay in South Korea, potentially ending Hyundai Card’s exclusive position.
KakaoBank could launch the service as early as mid-November, while both banks are aiming to introduce it before the end of the year.
The banks have completed technical preparations, and regulatory review of KakaoBank’s terms is nearing completion.
Apple Pay users would be able to pay with the banks’ cards using an iPhone or Apple Watch.
Shinhan Card, KB Kookmin Card and BC Card are also pursuing or undergoing reviews related to Apple Pay.
- Who
- KakaoBank and Toss Bank, with their debit card customers.
- What
- The banks are preparing to add their debit cards to Apple Pay in South Korea.
- When
- KakaoBank could launch as early as mid-November; both banks are aiming for a launch within the year.
- Where
- South Korea.
- Why
- The banks are preparing to expand payment options; the sources also cite potential growth in mobile payments and diversification of platform fee income.
This story does not have two clearly opposing sides.
Hyundai Card introduced Apple Pay in South Korea, and it has since been the only card provider offering the service.
The Financial Supervisory Service completed its review of Toss Bank’s related terms.
A notice was sent to KB Kookmin Card-affiliated merchants saying KakaoBank debit cards would become registerable with Apple Pay.
Maeil Business reported that the banks had completed technical preparations and were pursuing a launch within the year.
- Potential launch
- KakaoBank and Toss Bank debit cards
- KakaoBank timing
- As early as mid-November 2026
- Toss Bank terms
- Regulatory review completed early in 2026
- Current provider
- Hyundai Card, since Apple Pay’s South Korean launch in 2023
- Other providers pursuing review
- Shinhan Card, KB Kookmin Card and BC Card
1 source
What people are saying
We are reviewing the possibility of introducing Apple Pay
It is difficult to officially confirm