© Reuters. Rumors about Apple Pay “Solsol” home expansion … Who is the biggest beneficiary?
Apple is introducing Apple Pay. (Photo = Reuters = Yonhap News) As expectations for Apple Pay’s home service are on the rise, the focus is on Apple Pay beneficiaries. Stock analysts say that when building the Apple Pay infrastructure, it is essential to replace the device with a device equipped with a Near Field Communication (NFC) payment function, so companies should pay attention.
According to related industry sources on the 8th, Apple recently added “Apple Pay” related content to the national terms of use. As a result, the prospect of Apple Pay being introduced in Korea this year weighs on the outlook.
Apple Pay was launched in the US in 2014, but in Korea its introduction was delayed due to issues such as the high fee load and NFC terminal uptake issues.
Apple is extremely reluctant to say whether or not Apple Pay will be introduced in Korea, but this terms and conditions update is being interpreted as a sign that the Apple Pay service is forthcoming in Korea.
Notably, Hyundai Card’s exclusive Apple Pay contract account is quite specific. According to the report, Hyundai Card signed an exclusive one-year contract with Apple to introduce Apple Pay at the end of the year, and during this period, with the aim of selling 125,000 cards, cashback of the annual fee, the last payment of the Apple device lottery and purchase subsidy support, Apple Care insurance We are preparing promotions such as payment.
Hyundai Card plans to begin selling related cards via advance booking starting in November and, to introduce Apple Pay, has signed contracts with six van companies (VANs) and card terminal manufacturers, and has begun system manufacturing and development. of NFC terminals. A detailed photo of the Apple Pay service. / Photos = The reason the online community market is paying attention to Apple Pay is because of its performance in the global market. As of September 2020, Apple Pay surpassed 500 million users. As of 2021, in terms of global payment volume, it overtook Alipay and Mastercard in second place. As Apple Pay enters the domestic market, expectations are also rising that the market structure will change.
Kim Jae-woo, researcher at Samsung Securities, said: “At first, the cell phone makers represented by Samsung Pay took the lead in the simple payment services market, but are rapidly moving to electronic financial companies represented by. Kakao Pay and Naver Pay after the COVID-19 outbreak. ” As reported by the media, if Apple Pay enters the domestic market through collaboration with Hyundai Card, it may seek to expand its market share in an unconventional way, which is why the market is paying attention to the fact that it can lead to a change in the market structure so far. ” he explained.
While it has not yet been decided whether Apple Pay will enter the country, various titles are mentioned as beneficiaries of Apple Pay. Related equipment companies and payment companies are representative, among which a large ban company is mentioned as a representative example that is attracting market attention as a payee in the payments industry.
In fact, listed companies such as KG Inisys, Nice Information and Communication and Korea Information and Communication have shown differentiated equity returns despite recent stock market corrections.
In the five trading days from 7 to 15 last month, when the Apple Pay report was released, the share prices of KG Inesis, Nice Information and Communication and Korea Information and Communication increased by 7.33%, 7, 00% and 12.72%, respectively. Compared to KOSDAQ’s 1.72% rise over the same period, the share price has risen significantly.
The main key to Apple Pay’s establishment in the domestic market should be the expansion of the payment infrastructure. This is because the demand for replacement of devices equipped with NFC payment functions could increase, which could lead to the sale of related companies.
This is why the interest not only to enhance the NFC function of POS devices, but also to add the NFC function to the kiosks that are rapidly spreading recently, and the bans in charge of spreading and managing these devices are growing.
But the key is speed. If infrastructure construction is slower than market expectations, the performance of related companies may show slower-than-expected improvement.
Going forward, the pace of improvement in Apple Pay fundamentals in these companies’ investments is expected to depend primarily on the strategies Apple Pay users can use to increase Apple Pay usage in the short term, thereby increasing demand for Apple Pay. replacement of affiliate devices.
Some observers point out that at this point it is realistically difficult to select Apple Pay-linked payees and derive the potential for fundamental improvement. This is because it is not easy to deduce related strategies, national investment scale and related companies, as it has not been confirmed whether Apple Pay will enter the domestic market.
If Apple Pay is introduced, the industry is expected to change more rapidly. Due to the recent rise in the interest burden due to high inflation and rising interest rates, the performance of financial platform companies, including Fintech and Big Tech, is somewhat stagnant.
An industry official said, “If Apple Pay is introduced in Korea under such circumstances, it will inevitably intensify competition and further efforts for the survival of related competitors. As it can continue, more attention needs to be paid to such changes in the industry structure.” , he has declared.
Reporter Eunji Cha, Hankyung.com [email protected]
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