NAVER Pay

2023-11-08 07:43

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	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 screenshots show 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 screenshots show the journey of the account login, authorization, and binding:

Figure 3. Payment process with Naver pay by auto debit