How big is the South Korea Mobile Payment Market?

The South Korea Mobile Payment Market size is expected to reach USD 40.67 billion in 2024 and grow at a CAGR of 9.13% to reach USD 62.96 billion by 2029. Read More

What is the current South Korea Mobile Payment Market size?

In 2024, the South Korea Mobile Payment Market size is expected to reach USD 40.67 billion. Read More

Who are the key players in South Korea Mobile Payment Market?

Kakao Pay, Naver Corporation ( Naver Pay), Samsung Electronics (Samsung Pay), Toss and PayCo are the major companies operating in the South Korea Mobile Payment Market. Read More

What years does this South Korea Mobile Payment Market cover, and what was the market size in 2023?

In 2023, the South Korea Mobile Payment Market size was estimated at USD 36.96 billion. The report covers the South Korea Mobile Payment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Mobile Payment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

South Korea Mobile Payment Market - Company, Share & Size

South Korea Mobile Payment Industry Overview

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.