• Taishin Bank in Taiwan launched a QR payment service, TaishinPay, through its e-wallet
• The payment service is now available at major domestic duty-free shops, convenience stores, cafes, and other affiliated merchants.

SEOUL, South Korea, May 26, 2023 /PRNewswire/ -- GLN International(Global Loyalty Network, GLN) announced the launch of the QR payment service in South Korea in collaboration with Taishin Bank from Taiwan.

Taishin Bank's President Oliver Shang, GLN International's CEO Kyung-ho Kim

 

Established in 1992, Taishin Bank is a leading bank in Taiwan, committed to provide cutting-edge services and solutions with a focus on digital innovation. 

Through Taishin's e-wallet service, Taishin Pay, Taiwanese tourists visiting Korea can conveniently make QR payments with Taishin Point generated by credit card consumption only at major domestic merchants such as duty-free shops, convenience stores, and coffee shops without cash in hand. They can also enjoy the benefits of lower transaction fees compared to overseas credit card usage.

With the end of COVID-19 pandemic, the number of Taiwanese tourists visiting Korea has steadily increased. According to data from the Korea Tourism Organization, the number of Taiwanese tourists in March 2023 reached 63,000, recovering about 80% of the pre-pandemic levels and becoming important customers in the Korean travel industry.

Taishin is planning to launch a cashback promotion for Taishin Pay customers visiting Korea, and it also aims to expand the range of preferred travel services by collaborating with various Korean merchants and tourist attractions.

Since entered into the partnership with Taishin in 2019, GLN has been providing Korean tourists visiting Taiwan with the payment services at 30,000 merchants across Taiwan with applications from Hana Bank, Hana Money, and Toss. In addition, the promotions provide 1+1 offers and discounts at retailers such as Everrich Duty Free Shop and one of convenience stores, FamilyMart in on-going until the limit allows.

Kim Kyung-ho, CEO of GLN International said "We are very delighted that Taishin Pay customers can now conveniently use QR payment services in Korea." He added, "In the near future, we plan to establish networks to enable customers using e-wallet apps from Japan, Singapore, Vietnam, and Thailand to make payments in Korea. We aim to provide services available at approximately 1.5 million merchants nationwide, including ZeroPay merchants."

GLN, established in July 2021 as a fintech subsidiary of Hana Bank for global payment and settlement network businesses, has formed cooperative relationships with domestic and international financial institutions. It currently offers QR payment, QR ATM withdrawal, and tuition payment services in major global regions such as Japan, Vietnam, Thailand, Taiwan, Hong Kong SAR, Singapore, Laos, and Guam.

With the launch of the Taishin Pay QR payment service with Korean merchants, GLN completed the establishment of a two-way payment service between Korea and Taiwan and plans to further expand to two-way ATM withdrawal services as well. 

Source: GLN International Related Stocks: Korea:086790