[THE INVESTOR] Google’s mobile payment service Android Pay will make its debut in Korea in May, ETnews reported on March 27.

The report said Google plans to sign contracts with four Korean credit card companies -- Shinhan, Hyundai, Lotte and Hana -- to launch the service. 

“We are arranging details with Google such as setting up security tokens,” a card company official was quoted as saying. “We will sign the contract soon.”

Google planned to launch the service early this year but the plans were delayed due to prolonged talks with the card partners.

With Android Pay’s debut, the report said, mobile payment services using the near field communication technology is expected to secure a footing here amid the dominance of magnetic secure transmission-based Samsung Pay.

Since its first launch in the US in September 2015, Android Pay is expanding its presence around the world, making its debut in the UK, Singapore, Australia, Hong Kong and Japan.

By Park Yuna (yunapark@heraldcorp.com)