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| An image of a high school student's ID issued by Hana Financial Group is shown in the Samsung Pay application. / Courtesy of Samsung Electronics |
By Anna J. Park
Samsung Pay can now feature a student ID in its mobile application, as it partners with Hana Financial Group to strengthen its digital wallet functions. The move is part of a series of steps that Samsung Pay is taking to expand its versatility, following Apple Pay's recent launch in Korea.
Samsung Electronics, the operator of Samsung Pay, and Hana Financial Group announced Tuesday that they formed a strategic partnership earlier this week to cooperate on the digital wallet project. The two companies will work jointly on activating mobile ID functions, such as student IDs and employee IDs, with further plans to launch a futuristic model of financial services.
With the strategic agreement, students of 108 high schools across the country partnered with Hana Financial as their main financial company will be able to use their student IDs through Samsung Pay, if the schools decide to do so. Students can use the mobile ID to access their meal plans or enter libraries. The two companies plan to extend the service to university students in the near future.
"We're very glad to provide an innovative digital service for young people, the future leaders, with Hana Financial Group," said Han Ji-ni, vice president of the Digital Life and MX Division at Samsung Electronics. "We will strive so that users can have excellent mobile wallet experiences with the partnership."
"With the partnership with Samsung, we can offer the utmost innovative digital experiences for users," Hana Financial Group Vice Chairman Park Sung-ho said. "We will continue to provide new digital financial experiences and values for customers."
Samsung Pay formed a partnership with Naver Pay late last week, and is currently in talks with Kakao Pay to provide a joint service, in an apparent move to counter Apple Pay's threat to the local market.
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