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​Seoul To Launch To Its Own Mobile Payment Platform: Report

“The municipal government has formed a task force that will work to launch the service, tentatively called S-Pay, which aims to improve payment convenience for citizens and small businesses. The task force will aim to build the system for the platform and cooperate with banks as well as find partnered small businesses. The platform will use a mobile app or QR codes. The aim is to lessen commissions paid by businesses when they use credit cards. S-Pay’s system won’t go through credit card companies’ systems.”