Alipay, China's leading third-party online payment solutionAlipay, China's leading third-party online payment solution

NAVER Pay

NAVER Pay is a mobile payment service underpinned by South Korea's search engine giant NAVER. Launched in 2015, NAVER Pay is the second mobile e-wallet launched by the internet company NAVER Group after Line Pay.

After creating a NAVER Pay account, users can bind bank cards, transfer money, and complete online and offline purchases. Furthermore, users can earn NAVER Points by using NAVER Pay for payments and joining other activities. They can then use those points to enjoy discounts on future payments.

Properties

The properties of the NAVER Pay payment method are shown in the following table:

Payment type

Alipay+ payment method

Acquirer

Alipay SG, Alipay EU, Alipay US, Alipay UK

Acquiring region

SG, AU, HK,

US, EU, UK

Payment flow

Redirect

Checkout Payment

✔️

Buyer country/region

South Korea

Auto Debit

✔️

Funds deduction

Real-time

Refund

✔️

Processing currency

KRW

Partial refund

✔️

Minimum payment amount

100 KRW

Chargeback/Dispute

Maximum payment amount

For high-risk merchants: 2,000,000 KRW per day;

500,000 KRW per transaction

Refund period

365 days

User experience

The following graphic shows the NAVER Pay app authorization process:

image.png

Figure 1. Authorization process with NAVER Pay