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 | ||
Funding source | Balance, Points, Bank Transfer, Cards | ||
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 | ✔️ |
Fund deducted | Real-time | Refund | ✔️ |
Processing currency | KRW | Partial refund | ✔️ |
Minimum payment amount | 100 KRW | Chargeback | ❌ |
Maximum payment amount | For high-risk merchants: 2,000,000 KRW per day, 500,000 KRW per transaction. For non-high-risk merchants: unlimited if paying with Credit Card or balance payment | Refund period | 365 days |
Note: Wallets might change the transaction limit according to internal reasons such as risk policy. For high-risk merchants with cards funding source enabled, both wallet and card companies transaction limit apply to the merchants.
User experience
Naver Pay in the App
The following screenshots show the journey of paying with NAVER Pay in the app:
Figure 1. Payment process with Naver pay in the app
NAVER Pay by logging in to an account
The following screenshot shows the journey of paying with NAVER Pay by logging in to an account:
Figure 2. Payment process with Naver pay by logging in to an account
NAVER Pay by auto debit
Buyers need to complete the authorization and binding of their NAVER Pay accounts before using auto debit.
The following screenshot shows the journey of the account login, authorization, and binding:
Figure 3. Payment process with Naver pay by auto debit