Naver Pay (
Hangul
The Korean alphabet, known as Hangul, . Hangul may also be written as following South Korea's standard Romanization. ( ) in South Korea and Chosŏn'gŭl in North Korea, is the modern official writing system for the Korean language. The let ...
: 네이버 페이) is a
mobile payment
A mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device, as the cardinal class of d ...
service launched by
Naver Corporation
The Naver Corporation is a South Korean internet conglomerate headquartered in Seongnam that operates the search engine Naver. Naver established itself as an early pioneer in the use of user-generated content through the creation of the onlin ...
. It is Naver's second mobile payment service after
Line Pay
Line is a freeware app for instant communications on electronic devices such as smartphones, tablet computers and personal computers. Line users exchange: texts, images, video and audio and conduct free VoIP conversations and video conferences ...
, which was launched by Naver's Japanese subsidiary,
Line Corporation
Line Corporation is a Tokyo-based subsidiary of Z Holdings, which is jointly owned by Softbank Group and Naver Corporation. The company's business is mainly associated with the development of mobile applications and Internet services, particular ...
in 2014.
Service
Naver Pay was launched on June 25, 2015 with support for 14 banks and 3 credit card companies as well as 53,000 member stores. The service allows both mobile payment services through the app and online checkout for
online shopping
Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app. Consumers find a product of interest by visiting the website of the r ...
similar to
PayPal
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper ...
.
References
External links
Official website
Naver Corporation
Mobile payments in South Korea
Online payments
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