Naver Pay and BC Card Launch Shanghai Student Supporters with UPI in China

"Increased Demand for Easy Payments After China's Visa-Free Policy...
Strengthening Local QR Payment Services"

Naver Pay (Npay) and BC Card announced on June 18 that they have launched a university student supporter group in Shanghai, China, as part of their efforts to target the Chinese payment market. The companies also plan to further enhance their easy payment services for Korean visitors.

At the 'UnionPay QR Supporters - BC Card & Npay' event held on the 17th at the UPI headquarters in Shanghai, China, representatives from Naver Pay and BC Card are taking a commemorative photo. From the back row, left to right: Chanseung Lee, Head of Management Planning at BC Card; Sangjin Park, CEO of Npay; Jaeshin Ko, Economic Counselor at the Shanghai Consulate General; Lixin Wang, President of UPI; Jaehyun Han, Head of the Bank of Korea Shanghai Office; Wonseok Choi, President of BC Card; Bomi Seong, Head of UPI Europe Region; Myungho Lee, Head of UPI Korea Branch; and the first generation supporters. Naver Pay·BC Card

Photo by Naver Pay·BC Card

According to Naver Pay and BC Card, the first activity report meeting for the 'UnionPay QR Supporters - BC Card & Npay' was held the previous day at the UPI headquarters in Shanghai, attended by Wonseok Choi, President of BC Card; Sangjin Park, CEO of Naver Pay; and Lixin Wang, President of UPI.

The three companies have been operating the supporter group since April to promote domestic app-based easy payment methods, following the Chinese government's decision last year to allow visa-free entry for Koreans.

Naver Pay and BC Card each provide QR payment services based on their own applications at UnionPay-affiliated merchants in China.

In particular, since December of last year, Naver Pay became the first in the domestic easy payment industry to introduce Weixin Pay. Weixin Pay is known to have the largest QR payment merchant network in China.

The supporters shared insights gained from making payments at local merchants using domestic apps such as Paybook and Npay with the management of each company.

President Choi stated, "We will continue to provide meaningful extracurricular opportunities for Korean students studying in China," and added, "We will fulfill our responsibility as the only Korean payment company operating in China."

CEO Park commented, "Through this activity, we hope to further promote the overseas QR payment benefits and convenience of Npay not only to Korean students residing in China but also to domestic travelers visiting China."

President Wang said, "It is significant that we are providing services that reflect real user feedback, going beyond simple technical integration, so that Korean visitors can make payments in China using familiar apps." He added, "We will continue to work with the two companies to provide a safe payment experience."