[Market Focus] NICE Information & Communication Surges Over 7% on Accelerated Apple Pay Adoption

NICE Group Holding Company
Also Surges Nearly 5%

NICE Information & Communication and other Apple Pay-related stocks such as NICE showed strong gains in early trading on June 5. The buying sentiment appears to have been boosted as domestic credit card companies are moving to introduce Apple Pay one after another.

As of 9:23 a.m. on this day, shares of NICE Information & Communication on the KOSDAQ market were trading at 22,800 won, up 7.29% from the previous trading day. The stock, which opened at 21,950 won, soared to as high as 23,350 won during the session, setting a new 52-week high.

At the same time, NICE was trading at 12,480 won on the KOSPI market, up 4.96% from the previous session.

Recently, the Financial Supervisory Service approved the terms and conditions for Shinhan Card's Apple Pay service. Following Hyundai Card, it is now expected that Shinhan Card users will also be able to use Apple Pay, the simple payment service for iPhone. KB Kookmin Card has also reportedly applied to the Financial Supervisory Service for a review of its Apple Pay terms and is working to introduce the service.

NICE is the holding company of NICE Group, which operates a financial data business and holds stakes in 2 out of the 6 major VAN (Value-Added Network) companies that manage card payment terminals. NICE Information & Communication, a major subsidiary of NICE, supplies offline terminals compatible with Apple Pay.