Woori Bank targets global easy payments market with \'No Card, No Cash, No App\'

Woori Bank and Samsung Electronics are promoting a service that lets users pay overseas with only a smartphone, without a physical card, cash or a separate local payments app. Woori Bank said Samsung Wallet Money, launched last October, has surpassed 3 million active subscribers. From Oct. 26 it supports payments at WeChat Pay merchants in China and at Mastercard merchants globally. The bank also outlined encryption, tokenisation and monitoring measures for security.