November 26, 2024

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Naver Pay advertises its new QR offline payment service in 42 countries. (Naver Pay)

Internet giant Naver’s payment platform, Naver Pay, said Wednesday that its QR-based offline payment service is now available at Alipay Plus merchants in 42 countries, mainly catering to Korean tourists.

"We are committed to actively expanding our payment service to establish it as the preferred payment method for Koreans traveling abroad," said a Naver Pay official.

The 42 countries span across Asia, including China, as well as European nations, the US, and Australia.

Following a payment partnership with Alipay to provide its payment service in China in September, the Korean company expanded its operations to 41 additional countries with the support of Alipay Plus, Alipay's global payment network.

Once users' setting is modified to Alipay Plus Oversea mode on the Naver Pay app, they can simply finalize the transaction by presenting their QR code for scanning at the designated payment location. Alternatively, users can also scan the Alipay Plus QR code at the payment location.

Overseas payments have emerged as a critical business segment for Korean payment companies.

Naver's cross-town rival, Kakao Pay, also offers a similar service for Korean tourists in over 50 countries and recently reported significant growth in overseas payment volumes.

"In the third quarter, overseas payments surged by 75 percent compared to the same period last year," said Baek Seung-jun, business head of Kakao Pay, during a conference call earlier this month.

By Song Seung-hyun  (ssh@heraldcorp.com)