Hana Bank Subsidiary GLN Expands QR Payment Network in Korea
GLN, a subsidiary of Hana Bank, has expanded its QR payment merchant network in Korea to 1.5 million by integrating with Seoul Pay. This move provides international tourists a more convenient payment option while shopping in Korea without the need for cash exchange.
What are the key facts?
- 1Network Size: Increased to 1.5 million merchants
- 2Partner: Coocon (Seoul Pay)
- 3Target Audience: International tourists
What happened?
GLN International announced a partnership with Coocon to integrate the Seoul Pay network, increasing the number of QR payment merchants in Korea from 1 million to 1.5 million. This service allows international tourists to pay using their home bank or fintech app.
What does this mean for cross-border sellers?
For sellers with offline operations in Korea or those engaged in cross-border tourist retail, the enhanced payment channels will help improve conversion rates.