NAVER, Kakaopay to expand simple payment market in China

[서울 = 뉴스핌] 알파경제 = Kakao Pay, which has been in business discussions with Alipay since 2018, has been operating Kakao Pay payments in earnest at all branches of Alipay Plus in China since March this year. Domestic Kakao Pay users can pay at almost all Alipay Plus stores in China without installing a separate app.

Simple payments are also more economical than credit cards in terms of fees. If you make overseas payments such as Kakao Pay, you will be charged exchange fees and fees paid to payment network operators, which are lower than credit card payment fees.

Naver Pay has launched Naver Pay and Point QR on-site payment services at all Alipay franchises across China since the 19th. Payments can be made by presenting QR codes at all payment destinations in China with the "Alipayplus" logo, such as airports, department stores, marts, and taxis, or by scanning QR codes in the store with camera lenses in the app. It is easy to pay using Naver Pay Point or directly charged Naver Pay Money without a separate exchange procedure, and if the amount of holding is less than the payment amount, it will be paid after charging 10,000 won through a connected charging account. Earlier this month, Naver Pay also launched QR on-site payment services for the first time in Korea at UnionPay franchises across Japan and China.

Toss joined hands with Ant Group, a PinTech affiliate of Alibaba Group in China. Recently, Ant Group invested 100 billion won in Toss Payments and became the second largest shareholder of the company. The industry predicts that this investment will make it easier for Toss Payment to enter the overseas e-commerce market.

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