Naver launches mobile payment service in Japan

South Korea’s internet giant Naver said Monday it has introduced a mobile payment system that can be used at stores in Japan, a move that the company said could help Koreans traveling there have a better shopping experience.

According to the firm, its users can purchase items in Japan via its own mobile payment service Naver Pay. Using the tool called Cross-Border service, the users can carry out electronic payments by swiping a QR code with mobile devices. 

The service is available at Japanese retailers that accept a similar mobile payment system from Naver’s subsidiary in Japan, Line, Naver said. Stores bearing NPay or LinePay logo will accept the new payment system, it added.

“It is the first step in our entry into the Japanese market,” Naver Pay chief Choi Jin-woo said. “Ranging from offline to online payments, we are seeking to provide a convenient service for our customers at all places.”

Launched in 2015, Naver Pay competes with similar services from Kakao and Samsung Electronics to lead the growing mobile payment market in Korea. Money transactions through Naver Pay were estimated at 3.4 trillion won ($2.8 billion) during the fourth quarter of last year.

By Yeo Jun-suk
(jasonyeo@heraldcorp.com)