[Alpha Biz=(Chicago) Reporter Paul Lee] If the domestic simple payment industry begins to introduce fees in earnest, it is predicted that the annual size will exceed KRW 100 billion. There is a high concern that this burden will be passed on to consumers.
According to the Bank of Korea's "Status of Use of Simple Payment Services" on the 29th, the average amount of simple payments made through mobile phone manufacturers last year was 185.32 billion won per day.
This market is virtually dominated by Samsung Electronics' "Samsung Pay." Although Samsung Electronics has not charged related fees, it has changed its position since the introduction of Apple Pay (Apple's non-contact simple payment service). If Apple Pay's commission rate of 0.15% is applied to last year's payment amount, it will be 101.4 billion won per year. However, Samsung Electronics maintains that nothing has been decided on whether or not to charge fees so far.
If the fee fee becomes a reality, this burden can be passed on to consumers.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
