A court has upheld a fine of approximately 6 billion won imposed on Kakao Pay for transferring personal data of about 40 million users to China's Alipay without consent. The court ruled that users did not agree to their data being used for credit scoring by Apple.
A South Korean court has upheld a 6 billion won fine against Kakao Pay for transferring personal data of approximately 40 million users to Alipay without consent. The data was used by Apple to calculate an 'NSF score' for payment risk assessment.
China has enabled cross-border QR code payments with Indonesia, Thailand, Vietnam, Malaysia and Singapore, allowing users to pay in their home currencies. Alipay and QRIS now work across borders, with Chinese visitors able to use digital wallets in Thailand since late October and UnionPay/Alipay in Vietnam since December. Natixis analysts say the move advances dedollarisation, promotes yuan internationalisation and strengthens ASEAN economic ties.
