The regional e-wallet firms are set to expand to the Korean market.
Ant Group announced its plans to help four Asian e-wallets, including the Philippines’ GCash and Malaysia’s Touch’n Go to expand its market into South Korea through its amplified cross-border payment service Alipay+. The move was done against the backdrop of easing travel restrictions across Asia.
The move will allow users of e-wallets that use Alipay+, including GCash, to transact and pay at over 120,000 merchants using their local mobile payments apps while in South Korea, on services including convenience stores, taxis, duty free shops.
Alipay+, which was launched in 2020, offers services and technology tools to global merchants and e-wallets that enable them to offer their users the ability to make payments in overseas markets with their local e-wallets. Its e-wallet clients include its namesake Alipay.