South Korean Mobile Payment Services Join Hands with Alipay Plus for Global Expansion
South Korean Services Compatible with Alipay Plus
Kakao Pay, Naver Pay, and Toss Pay, prominent mobile payment services in South Korea, have now become compatible with Alipay Plus, a global mobile payment network operated by Ant Financial. This integration allows users to make payments at Alipay Plus affiliated stores in China, thus expanding the scope of these South Korean services. Alipay Plus has been supporting offline QR code payments with Naver Pay and Toss Pay since the opening day of the 2023 Hangzhou Asian Games. Kakao Pay has been available as a payment method at Alipay Plus stores across China since March 2021, having joined as a partner in 2018.
Alipay Plus: A Partner to Multiple Asian Services
Alipay Plus doesn’t limit its partnerships to South Korea. It also supports offline payments from ten services across Asia, including Mongolia’s HiPay, Singapore’s ChangiPay and OCBC Bank, and Thailand’s True Money. This extensive network of partnerships reflects Alipay Plus’s commitment to providing a seamless payment experience to users across Asia.
Simple Payment Methods for South Korean Services Users
The method of usage of these South Korean services with Alipay Plus is quite straightforward. For Kakao Pay, the payment barcode automatically switches to ‘overseas payment’ mode when the app is opened in China. Naver Pay users can select the Alipay and UnionPay payment options from the NPay menu on the Naver Pay or Naver App. Toss Pay users can either select ‘On-site Payment → Overseas’ from the Toss menu or click on the QR icon that appears in the top right corner when the app is opened in China.
Payment Method and Promotions
In all three services, the payment amount is deducted in Korean Won from the bank account linked by the user. However, none of the services currently support credit card-linked payments. Exchange rates are set by Alipay Plus at the time of payment, and a service fee may be charged for overseas usage. Promotions, including paybacks on a portion of the payment amount, are available during the Hangzhou Asian Games.
Future Expansion Plans
The mobile payment service providers have announced plans to gradually extend their on-site payment support to other Asian countries frequently visited by Korean tourists. This future expansion is expected to enhance the user experience and make overseas payments more convenient for Korean tourists.
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