Mirae Asset Securities Launches Korea's First iPhone Easy Payment Service 'Mirae Asset Pay'

Available at 7-Eleven Stores from the 18th
Mirae Asset Securities Implements Customer Alliance through Digital Transformation

[Asia Economy Reporter Song Hwajeong] Mirae Asset Securities announced that it will launch the simple payment service ‘Mirae Asset Pay’ on the 18th. Mirae Asset Pay is a payment method that uses the smartphone’s Near Field Communication (NFC) function.

In Korea, only Android smartphone users have been able to use touch-based payment apps, causing inconvenience for iPhone users. However, with the launch of Mirae Asset Pay, it is expected to provide payment convenience especially to iPhone users and the MZ generation (Millennials + Generation Z).

At launch, only card payment services will be provided, but account payment services will be offered in the future. Card payments can be made by registering all domestic cards, and the benefits of existing cards are designed to be fully retained. Additionally, efforts are underway to register and enable the use of the local currency Ieum Pay on Mirae Asset Pay within the year.

Currently, Mirae Asset Pay is expanding its affiliated stores centered on convenience stores, which are the most essential places when going out without a wallet. Initially, it can be used at 7-Eleven stores from the launch date, and later it is expected to be available at convenience stores, coffee shops, marts, and theaters. Furthermore, the service is expanding to non-franchise general stores, and Mirae Asset Pay plans to prioritize expansion based on user requests for desired affiliated stores through the app.

Mirae Asset Pay will also provide public transportation payment services. To this end, it recently signed a business agreement with Korail, enabling public transportation use via touch on iPhones. Through a partnership with fintech company TelQon, it is expected that users will be able to use subways and city buses without touch, similar to highway Hi-Pass systems. Additionally, it includes an electronic entry log function with simple NFC touch, and plans to open withdrawal services via NFC touch at ATMs.

As Mirae Asset Securities intensifies its simple payment business, attention is focused on how Chairman Park Hyun-joo of Mirae Asset Group is enhancing user convenience through digital transformation.

A Mirae Asset Securities official said, “Mirae Asset Pay offers more convenient usability and superior security than other simple payment methods by using touch technology,” adding, “Mirae Asset Pay plans to continuously provide innovative customer experiences never before experienced in existing pay services through simple payments.”