Kakao Pay, a leading South Korean mobile wallet, has partnered with Alipay+ and Mastercard to launch Near-Field Communication (NFC) payment capabilities for overseas transactions. This collaboration allows Kakao Pay users to make NFC payments at more than 150 million Mastercard merchant locations globally, including in Japan, Southeast Asia, the US, and Europe. The new NFC payment option complements Kakao Pay’s existing QR code and barcode-based cross-border payments, enhancing the travel and shopping experience for its users abroad.
The NFC payment feature enables users to tap their NFC-enabled Android phones on contactless point-of-sale terminals that accept Mastercard, simplifying cross-border commerce and reducing the need for physical payment methods. This service is currently available on the latest versions of the Kakao Pay app and will soon be introduced to the KakaoTalk app for Android, with plans for a future rollout on iOS.
Seung Jun Oh, Head of Payment Group at Kakao Pay, stated, “Just as we do in South Korea, we aim to provide the most convenient and rewarding payment experience overseas.” Sandeep Malhotra, Executive Vice President of Core Payments, Asia Pacific at Mastercard, added, “Through this partnership, Mastercard is making overseas payments simpler and more secure for Korean users when they travel.”
Douglas Feagin, President of Ant International, highlighted the broader impact, saying, “By working with Mastercard, we are expanding digital payment acceptance to millions of merchants worldwide.” This initiative marks a significant step towards creating a more inclusive and interoperable global payment ecosystem.
