Cocone Integrates UnionPay and WeChat Pay with Seoul Pay
Linked to 520,000 Seoul Pay Merchants
On October 13, Cocone announced that it has launched a service integrating WeChat Pay and UnionPay with Seoul City’s simple payment service, Seoul Pay.
Seoul Pay is a QR-based simple payment service operated by the Seoul Metropolitan Government. It can be used at approximately 520,000 offline merchants in Seoul. Cocone is the global payment and settlement operator selected by the city.
With this integration, foreign tourists can now use their home country’s mobile payment services at Seoul Pay merchants simply by scanning a QR code. Domestic merchants can now offer payment services to visiting foreigners without having to build separate foreign currency payment systems.
Cocone plans to expand partnerships with global payment providers starting with this integration.
According to Cocone, the company currently connects 2 million domestic offline merchants, 100,000 major franchise stores, and around 40,000 ATMs nationwide to provide payment and withdrawal services.
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Kim Jonghyun, CEO of Cocone, said, “With this launch, we have taken our first step into the global payment business. We aim to contribute to revitalizing the local economy by boosting small business sales and to strengthen our role as a bridge between Korea and the world.”
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