The passing of the bill by South Korea’s National Assembly is a welcome development. Any legislation on the matter anywhere in the world will set a precedent for other nations to adopt and build on, and we hope this will now expedite similar legislations by other governments as well.

The matter has always been about the anti-competitive practices of forcing a payment option as well as of forcing out other payment providers.

We exhort the Apples and Googles of the world to uphold the spirit of the legislation and adopt fairer policies going forward. Unfair markets and anti-competitive practices stifle innovation and adversely impact market outcomes in the long run.