Kakao Pay said on the 25th that Kakao Pay, Alipay+ and PayPay have joined hands to launch PayPay's offline payment service in Korea.
Kakao Pay is the only one among fintech corporations to offer not only "outbound" payments made overseas with Kakao Pay, but also "inbound" payments that let visitors to Korea pay at Kakao Pay offline merchants using their home-country easy-payment apps, through a strategic partnership with Alipay+.
Because PayPay is Japan's largest easy-payment service with about 70 million users, the payment volume is expected to rise significantly. From January to July this year, 1.92 million Japanese tourists visited Korea, the second most after China.
Kakao Pay is working with a range of global pay services beyond Japan. In addition to PayPay, just this month it connected Vietnam's ZaloPay, Pakistan's NayaPay and Uzbekistan's Humo in the domestic market. In the outbound overseas payment segment, it introduced NFC payments on the 22nd, expanding into the United States, Europe and Oceania.
Kakao Pay said, "With 'Japan's No. 1' PayPay launching in Korea, the largest groups of easy-payment users in both Korea and Japan can now pay using their own country's pay services," adding, "Since Kakao Pay's first overseas payment launched in Japan in 2019, we have maintained close cooperation, and we will ensure that all payment users traveling between the two countries enjoy unparalleled payment convenience and benefits."