NextFin News — UnionPay International, South Korea’s BC Card and Naver Pay signed a memorandum of understanding in Seoul on Aug. 24 to improve payment services for foreign visitors to Korea.
The three parties will integrate customer channels, merchant acceptance networks and payment platforms to create a dedicated mobile payment service tailored for inbound travelers. Naver Pay will develop and operate the service platform and related infrastructure, BC Card will manage its domestic merchant network, and UnionPay International will supply payment integration infrastructure and technical support.
The partners aim to launch the service next year and plan joint marketing to encourage adoption. The collaboration is expected to raise payment convenience for overseas visitors while expanding Korean merchants’ access to international customers.
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