The financial arm of South Korea’s leading portal operator Naver said Dec. 4 it has joined a cross-border mobile payment alliance with its Asian partners.
The collaboration enables the four companies’ nearly 80 million users to make electronic payments at stores that use Naver Pay, Line Pay and Payco in South Korea, Japan, Thailand and Taiwan, according to Naver Financial.
The partnership was signed with Japan-based Line Pay, Taiwan’s iPass. and Naver’s NHN Payco.
Under the partnership, customers of Naver Pay will be able to use its mobile application at stores in Thailand and Taiwan starting in the first quarter of next year, officials said.
Customers will not need to download new apps or register other apps, as the apps offered by the operators will be connected automatically, it said.
“The partnership expands payment service experience at both home and abroad,” said Choi Jin-woo, vice chief at Naver Financial.
“The alliance will be expanded beyond payment to other services.”
By Ram Garikipati and newswires (firstname.lastname@example.org)