Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) hYUNJIN KIM Journalist = Samsung Electronics and Naver Financial Corp. signed an MOU for a better mobile payment experience at Naver 1784 building in Seongnam-si Gyeonggi-do Province on 20 February.

The two Korean giants promised constant cooperation with each other for more convenient digital lives of users, starting with payment and wallet sectors via this MOU.

Thanks to the agreement, Samsung Pay users now pay with Samsung Pay in 550000 online merchants in Korea, including Naver Smartstore and Naver Pay online order-type merchants.

At the same time, Naver Pay users can still enjoy the Naver Pay offline payment through Samsung Pay’s Magnetic Secure Transmission (MST) method in all brick-and-mortar merchants supporting Samsung Pay in Korea.

Both parties agreed on building related systems with a plan to offer their services in the first half of this year.

The CEO of Naver Financial Corp. said, “The coming cooperation with Samsung Electronics allows 31.5 million Naver Pay users to experience the same easy payments and benefits available at online merchants in most brick-and-mortar merchants via Samsung Pay.

NSP News Agency hYUNJIN KIM Journalist kimhj30310@nspna.com
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