This material is exclusively prepared for Ringle customers

Material for your English session

Who will be the winner in e-payment market (Samsung vs. vs. Apple)

E-Payment war initiated by IT giants (, , Google Wallet)

Ringle Great people. Great conversation. Great English. Just for you

0 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

Required preparations before the session (For Student)

 Step 1: Please read the summary (Written in English on page 2)

 Step 2: Please read today’s article (on page 3~7)

 Article #1: Apple Inc.’s Success with Apple Pay Galvanizes Google and Samsung

 Article #2: Samsung acquired LoopPay to beat Apple Pay (Apple Pay, Samsung Pay, Google Wallet: A guide to apps)

 Step 3: Please view the following video clip (links on page 8)

 Video #1: Samsung Pay Vs Apple Pay (Samsung Keynote 2015)

 Video #2: How e-payment works (Intro of LoopPay which was acquired by Samsung)

 Video #3: Federal government to start accepting Apple Pay in Fall (A speech by Tim Cook, a CEO of Apple)

 Step 4: Please check the 8 key questions listed on page 9~10

 Step 5: Please study the key business-related expressions and terms on page 11~15

 Step 6: Please finish the 2 assignments before the session

 Assignment #1: Prepare a brief summary of this article (up to 2 minutes presentation)

 Assignment #2: Build your own perspectives and short answers for each key question (up to 1~2 minutes speech for each question)

1 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

[Summary]

Apple, Google and Samsung started a race for dominance in the market for E-payment. In 2014, Apple Pay went ahead by obtaining more than 50% share of E-payment market. Samsung Pay struck back by acquiring LoopPay which had a technology compatible with a higher percentage of U.S. merchants than that of Apple Pay. Google Wallet is trying to catch up by acquiring Softcard

E-payment solutions from these three companies support both online and offline payments and consolidates multiple credit cards into one solution. It is possible to make payments with only your smartphone and your smartphone will automatically find the that offers the most reward at each shop you visit. Also it is much easier to manage your credit cards with these E-payment solutions.

But E-payment solutions have several major issues to address before they can be reliable. Security is a major issue with these solutions. For example, if you are using an E-payment solution, losing your smartphone means you just lost all of your credit card information used for your E- payments. Also there is the issue of privacy as companies offering E-payment solutions will have access to your purchase history and credit card information.

E-payment market is likely to grow rapidly in South Korea as well. It was hard to develop and launch E-payment solutions under South Korean regulations. However, with its ability to influence government policies and regulations, Samsung is now focusing on Fin-tech and we are already seeing major changes lead in E-payment market lead by Samsung Pay in South Korea.

Who will end up as the winner in the race for dominance in E-payment market? Will E- payment solutions be a major disruption to the traditional payment market?

Use your Ringle sessions to exchange opinions with Ringle tutors.

2 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

[Today’s article] Samsung acquired LoopPay to beat Apple Pay (Apple Pay, Samsung Pay, Google Wallet, and more: A guide to mobile payment apps )

Security, savings, and convenience attract shoppers to 'mobile wallets,' payment apps such as Apple Pay, now available for phones and tablets. Check out these options.

(Journal published at 2015, March)

Mobile payment has been slow to take off. But with Apple and Samsung announcing their apps, this year is [1] poised to be the year of the mobile wallet.

Oddly, security is both the biggest reason consumers have been reluctant to embrace the concept, and what just might drive the shift toward mobile wallets in the end. Last year saw [2] security breaches at big retailers like Home Depot and Target; and mobile wallets seem more attractive because many use "tokenization," a transaction process that substitutes credit card numbers with one-time secure tokens. This is meant to make your credit card data immune to those types of databases hacks, because the stores never have your card numbers.

The recent [3] flurry of data breaches is also driving the replacement of the current swipe-and-sign credit card with chip and PIN cards, which create single-use codes and sometimes require the entry of a PIN for added security. As stores switch to the EMV system, these updates are also very likely to include compatibility for near field communication (NFC), the tap-to-pay technology used by many mobile wallets that allows customers to pay by holding their phones in front of a device at the register.

This past October, only 2.4% of retailers that accepted credit cards had the NFC technology to accept the then-new Apple Pay. That's likely to be very different this October, when the deadline for retailers to update to the new EMV system comes.

Security isn't the only [4] draw of these services: They promise increased deals, savings, and convenience too. Companies that are trying to make it easier for retailers to turn their ads into clickable deals for Apple

3 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

Pay, Google Wallet, and other mobile wallets, and for shoppers to receive coupons when they're near a store.

A Comparison of All the Major Mobile Wallet Options

Thinking about switching to a mobile wallet? Here's what you should know about the top contenders, and their [5] pros and cons.

[Apple Pay]

The October launch of Apple Pay [6] put the spotlight back on mobile wallets. By early March, the number of retailers that accept NFC mobile payments jumped to 700,000, with as many as 50,000 Coca- Cola vending machines. Apple Pay is also reportedly doing well on app and online purchases; according to a recent Fortune.com post, Apple Pay is the top payment method at Staples.com. A recent study, however, found that only 6% of iPhone 6 and 6 Plus users had used Apple Pay so far.

Setup: Apple Pay is set up through the Passbook app installed on Apple devices. Apple Pay is compatible only with newer devices: the iPhone 6 and 6+, the iPad Air 2 and Mini 3, and the upcoming Apple Watch.

Payment: To pay, put the device near the store's reader and place your thumb on the device's Touch ID sensor to confirm your identity. You can also easily pay within apps.

Loyalty programs, gift cards, and coupons: The PassBook app was originally designed to hold loyalty cards, gift cards, concert and movie tickets, and coupons.

Security: Apple Pay uses tokenization for secure payments, and the info is stored on a chip within the device itself. Apple doesn't store transaction details and doesn't collect information about what you buy. If the phone is lost or stolen, use Find My Phone to put it in Lost Mode, which will suspend Apple Pay. Or you can completely erase all information, including credit and debit cards, from the phone.

While Apple Pay users' information is safe, identity thieves are using Apple Pay to set up iPhones with stolen information and then using the system, often to buy high-price Apple items and re-selling them. However, a recent article by The New York Times says the problem may be the banks, as they are responsible for approving the cards loaded to the mobile wallet. Verification has often been the last four digits of a social security card — something ID thieves often have. (Mashable notes the issue might not [7] be unique to Apple Pay.)

[Google Wallet]

When Google Wallet launched in 2011, it failed to take the world by storm, partially because many major wireless providers instead supported the Softcard (formerly Isis) mobile wallet and even blocked Google Wallet from working on their phones. Earlier this year, however, Google acquired Softcard and announced that Google Wallet will be pre-installed on , T-Mobile, and AT&T Android devices. (If you're wondering about Android Pay, it's not a consumer app, but an API for developers to use Google technology to create their own payment apps.)

Setup: Users can put in multiple credit cards and select one as the default tap-and-pay option. You're also asked to create a 4-digit PIN. You can also add money to the Google Wallet balance from your bank account for free or from a credit or debit card for a 2.9% fee.

4 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

Those switching to Google Wallet from Softcard, which shuts down at the end of March, won't be able to transfer data and will have to set up a new account.

Payment: To use the tap-and-pay function in stores, you need an Android phone running 4.4 (KitKat) or higher. To unlock the wallet, enter the 4-digit PIN and then tap. You can use Google Wallet on Google Play or within apps, as well as online wherever you see a Buy with Google button.

You can also receive money and send money from your Google Wallet balance as a Gmail attachment even if the recipient doesn't have Gmail. You can also [8] opt for a physical Google Wallet card that allows you to spend from your Google Wallet balance or get cash at ATMs.

Loyalty programs, gift cards, and coupons: Enter account numbers or scan barcodes of your customer loyalty cards to the Google Wallet. You can also browse and sign up for loyalty programs within the app. As for coupons, use the Save to Google button to save offers from websites on your phone.

Gift cards also can be stored on Google Wallet, and you can easily view your balance.

Security: Google Wallet uses tokenization, and the encrypted data is stored on Google's secure servers, so your information is never shared with the merchant or shown in the app. You also must use the 4-digit PIN to authorize payment. If the phone is lost or stolen, disable the account online, and if you lose the wallet card itself, you can lock it using the app. You can opt for instant notifications for transactions, and there's 24-hour security monitoring.

[Samsung Pay]

Samsung, which recently purchased mobile payment system LoopPay, is offering a mobile wallet that can be used with current magnetic strip card readers, making it compatible with 90% of U.S. merchants when it launches in the US this summer. That's more than 10 times locations that now accept Apple Pay.

Setup: Samsung Pay will be available on the Galaxy 6 and Galaxy 6 Edge, but not during the phones' initial launch in April. According to a Samsung press release, set-up requires a few simple steps.

Payment: Samsung Pay will offer tap-and-pay technology, with the phone's fingerprint scanner to complete a transaction. Nothing has been said about Samsung's ability to work with EMV readers, but it looks like something from LoopPay is in the works.

Loyalty programs, coupons, and gift cards: Not much has been revealed about this aspect of Samsung Pay, however, LoopPay currently offers storage of loyalty cards, as well as insurance and library cards. According to the company's website, LoopPay also can store IDs, like your work ID and your driver's license — one of the main reasons you still need to carry a physical wallet. (Whether police officers and bouncers are [9] on board with this remains to be seen.)

Security: Like Apple Pay and Google Wallet, Samsung Pay uses a tokenization system that doesn't transmit your card information to retailers. In the case of lost or stolen phones, Samsung's Find My Mobile feature can be used to locate, lock, or clear the phone.

Source of article: http://www.csmonitor.com/Business/Saving-Money/2015/0329/Apple-Pay-Samsung-Pay-Google-Wallet-and- more-A-guide-to-mobile-payment-apps

5 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

[Video clip]

Please watch these video clips (Please use Google Chrome to open the links below)

 Samsung Pay Vs Apple Pay (Samsung Keynote 2015) https://www.youtube.com/watch?v=55j3Ep6qM_0

 How e-payment works (Intro of LoopPay which was acquired by Samsung) https://www.youtube.com/watch?v=6Ut4pfLK0nA

 Federal government to start accepting Apple Pay in Fall (A speech by Tim Cook, a CEO of Apple) http://www.cnet.com/videos/federalgovernmenttostartacceptingapplepayi nfall/

6 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

[8 key questions]

#1. Please watch the video clip #2 (LoopPay intro). What is your gut-feeling about LoopPay’s e- payment service? Do you want to use this service if available?

#2. How do you pay in your country?

 What are typical examples of payment methods in South Korea?

 Is it possible to join and use an advanced e-payment service (Apple Pay, Samsung Pay) in South Korea? If not, why are e-payments not introduced in South Korea?

#3. What are the motives of top IT players (Samsung, Apple, Google) who join the payment market? What are their competencies compared with conventional financial institutions in this market?

 What are the expected benefits of IT companies to participate in the e-payment market? (New revenue sources, data gathering, customer acquisition, etc)

 Why do Samsung, Google, Apple have higher chance to succeed in the e-payment market than traditional financial players do?

#4. What are the potential benefits/risks of customers to use e-payment platform provided by the big 3 IT companies?

 Potential benefits: easy to use, easy to manage multiple credit cards, easy to get promotion benefits and rewards, etc.  Potential risks: invasion of privacy information (transaction data), etc

#5. Among the big 3 players, who do you think will dominate e-payment market in the states?

 Apple: Market leading player with a broad coverage by making partnership with key retailers

 Samsung: Aggressively invests in e-payment sector by acquiring LoopPay (who has the market leading technology in US) in 2015

 Google: Also makes big investments in the e-payment market by acquiring Softcard and other multiple mid-sized payment-related start-ups

7 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

#6. How would traditional payment industry be changed? What are the expected impacts on credit card companies due to the e-payment services?

#7. How does the e-payment service impact South Korea? Do you think there is a high chance of South Korean government accepting this advanced e-payment service? Could Samsung influence Korean regulatory bodies to allow Samsung Pay in Korean payment market?

#8. Let’s assume that you are planning to have a dinner with the CEO of Samsung. He want to get recommendations to beat Apple Pay and win in the e-payment market. What are your suggestions to the CEO of Samsung? (1 minutes speech)

8 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

[Key business related terms and expressions]

[1] poised to: ~할 태세를 갖추고 있다/준비가 되어있다.  [Ringle 에서 드리는 팁] ready to 와 뜻이 같지만 더 formal 한 표현입니다. 원래 poised 는 우아한, 자신감 넘치는 이라는 뜻을 가지고 있습니다.  [예문 1] With Apple and Samsung announcing their apps, this year is poised to be the year of the mobile wallet: 애플과 삼성이 그들의 앱을 발표함에 따라, 올해는 모바일 결제 (지갑)의 해가 될 것으로 보인다  [예문 2] They look poised to make a significant breakthrough: 그들은 획기적 돌파구를 마련한 것처럼 보인다.  [예문 3] Displeased with the service, they were poised to leave: 불만족스러운 서비스로 인해, 그들은 금방이라도 떠날 것 같았다.

[2] security breach: 보안상의 결함, 보안 사고  [예문 1] Last year saw security breaches at big retailers like Home Depot and Target: 작년에 홈디포와 타겟 같은 대형 소매업체들에서 보안 사고가 있었다.  [예문 2] Sadly, it had been suffering from an iOS security breach for years. 안타깝게도, 수 년간 iOS 보안침입에 골머리를 썩고 있다.

[3] flurry: 돌풍; 눈이나 잎 같은 작은 물체들이 바람에 날려서 소용돌이치는 상태; 갑자기 많은 사건들이 벌어지는 상황  [영영사전] Flurry: 1) A small swirling mass of something, especially snow or leaves, moved by sudden gusts of wind; 2) A number of things arriving or happening during the same period  [Ringle 에서 드리는 팁] Literal meaning(문자 그대로의 의미)는 소용돌이 치는 상태를 말하지만 실제 활용은 figurative meaning(비유적인 의미)로 대부분 쓰입니다. 몰아치듯이 갑자기 사건이나 일이 많이 생기는 상황을 표현하는데 쓰입니다.  [예문 1] The recent flurry of data breaches is also driving the replacement of the current swipe- and-sign credit card with chip and PIN cards: 최근에 연달아 발생한 데이터 보안 사고들이

9 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

현재 사용되는 마그네틱 카드(긁고 사인하는)를 칩과 PIN 카드 (비밀번호를 사용하는 카드) 로 대체하게 하고 있다.  [예문 2] A flurry of wind capsized the small sailboat: 작은 돛단배가 돌풍에 의해서 전복됐다.

[4] draw: 인기를 끄는 요인  [영영사전] draw: A person or thing that is very attractive or interesting  [Ringle 에서 드리는 팁] appeal 과 유사한 뜻을 가지고 있습니다. 둘 다 인기를 끄는 요인이라고 해석 될 수 있지만 draw 는 사람들을 끌어 모으는 요인이라는 뉘앙스라면 appeal 은 사람들에게 매력적으로 다가가는 요인이라는 뉘앙스가 있습니다.  [예문 1] Security isn't the only draw of these services: 보안이 이 서비스들의 유일한 인기요인은 아니다.

[5] pros and cons: 장점과 단점  [영영사전] pros and cons: the advantages and disadvantages of something  [Ringle 에서 드리는 팁] pros and cons 와 아주 유사한 strengths and weaknesses 라는 표현이 있습니다. 얼핏 보면 같은 뜻을 가지고 있을 것 같지만 pros and cons 가 약간 더 넓은 의미를 가지고 있고 두 표현이 쓰일 수 있는 대상에서 차이가 있습니다. 컨설팅에서 쓰이는 SWOT(strength, weakness, opportunity, threat)가 익숙하시다면 pros 는 strength 와 opportunity 를, cons 는 weakness 와 threat 를 포함하는 더 넓은 의미를 가지고 있다고 보시면 됩니다. Pros and cons 는 어떠한 주장이나 제도, 선택의 장점과 단점을 표현한다면 strengths and weaknesses 는 어떤 사람이나 주체의 강점과 약점을 표현할 때 사용합니다. 예를 들어 내 장점과 단점이라고 한다면 my pros and cons 는 아주 어색한 표현이고 my strengths and weaknesses 라고 써야 합니다.  [예문 1] Here's what you should know about the top contenders, and their pros and cons: 여기에 있는 것이 당신이 알아야 할 최상위 경쟁자들과 그들 제품의 장점과 단점 입니다.  [예문 2] There are pros and cons to each timing: 각 시점 별 장점과 단점이 있다.

[6] put the spotlight on: ~에 사람들의 이목을 집중시키다.  [영영사전] spotlight: direct attention to (a particular problem or situation)

10 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers

 [예문 1] The October launch of Apple Pay put the spotlight back on mobile wallets: 10 월에 출시된 애플페이가 전자 지갑에 사람들의 이목을 다시금 집중시켰다.  [예문 2] Last week Gordon Brown put the spotlight back on the issue by pledging to crack down on tax avoidance by companies based offshore: 지난 주 Gordon Brown 은 역외 세금 회피를 단속하겠다고 약속함으로써 주목을 받았다.

[7] be unique to ~: ~특유의, ~에서만 볼 수 있는, ~만의  [영영사전] unique: being the only one of its kind; unlike anything else; particularly remarkable, special, or unusual  [예문 1] Mashable notes the issue might not be unique to Apple Pay: 매셔블(리뷰사이트)는 이 문제가 애플만의 문제점은 아닐 수 있다고 언급했다.

[8] opt for: 선택하다  [영영사전] opt: make a choice from a range of possibilities  [예문 1] You can also opt for a physical Google Wallet card that allows you to spend from your Google Wallet balance or get cash at ATMs: 당신은 ATM 에서 돈을 인출하거나 구글 월랫 잔고를 통해 결제 할 수 있는 카드를 선택 할 수 있습니다.  [예문 2] To keep the cost down, opt for a basic model: 가격을 낮추시려면, 기본사양을 선택하세요.

[9] on board: 계획이나 제도에 따르다/동참하다.  [예문 1] Whether police officers and bouncers are on board with this remains to be seen: 경찰과 술집 경비원들이 이 계획에 동참해 줄지는 아직 명확하지 않다.  [예문 2] I'm on board with that now. 나는 지금 그것에 동의한다.

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