Naver Pay and WeChat Pay team up to facilitate cross-border transactions

Naver Pay, a digital wallet service run by Korea’s portal giant Naver, has integrated with China’s WeChat Pay to enable cross-border transactions in China.

Poster promoting integration of Naver Pay with China's WeChat Pay [NAVER PAY]

Naver Pay, a digital wallet service run by Korea’s portal giant Naver, has integrated with China’s WeChat Pay to enable cross-border transactions in China.

Naver Pay users can pay and earn reward points using the Naver Pay app from Tuesday by scanning on-site payment QR screens designed for WeChat Pay users, without the need to install or register for additional apps.

The users can scan the WeChat Pay QR code through the Naver Pay app, enter the payment amount and click the “pay” button. The amount will be deducted from their Naver Pay points or Naver Pay Money, which is the cash amount directly transacted from the linked balance account.

The app displays the expected amount in Korean won, and if the balance is insufficient, automatically recharges in increments of 10,000 won from the linked account to complete the payment.

This integration derives from an ongoing partnership between Naver Pay and UnionPay formed in September, which connects various mobile payment services with WeChat Pay in China. Naver Pay also formed a partnership with Alipay+ to integrate its services during the same month.

The 10 percent instant discount promotion feature, jointly run by Naver Pay and UnionPay that runs until March 2025, is applicable to WeChat Pay QR payments.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]