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Recently South Korea added the development of the fintech ecosystem as a high priority through its Financial Services Commission. In recent months, South Korea has forged greater links with French and German fintech hubs. Additionally, the South Korean government has committed to providing venture capital funding to innovative fintech startups. The CardLinx Asia Forum in April complements this effort to increase focus and resources on the payments and card-linking ecosystems by the South Korean government.
Samsung intents to launch Samsung Pay Mini, a lighter version of its mobile payment solution that works with both Android and iOS.
Samsung Pay is set to launch in Europe next week.
Spain will be first market, with UK following soon after according to techweekeurope.co.uk. The European launch follows Samsung Pay’s initial release in South Korea, the US and China.