Chinese Fintech To Introduce GCash in South Korea

Chinese Fintech To Introduce GCash in South Korea

A Chinese fintech company is helping four e-wallets in Asia, including GCash, to expand in South Korea.

Chinese Fintech To Introduce GCash in South Korea

Ant Group, a financial services company located in China, said it would help expand GCash, Touch’n Go, TrueMoney, and AlipayHK—apps that use AliPay+.

These e-wallets will be made available at over 120,000 merchants in South Korea. This move will particularly benefit travelers, especially now that travel restrictions are being lifted.

“With South Korea being one of the most popular destinations of Filipinos, we are delighted that our customers will be able to maximize their GCash app during their travels,” said Martha Sazon, chief executive officer of Mynt, which operates GCash.

The first batch of available merchants will include taxis, duty free shops, and convenience stores, according to Ant.

Launched in 2020, Alipay+ provides services and technology tools to global merchants and e-wallets that enable them to offer their users the ability to make payments in overseas markets with their local e-wallets. Its e-wallet clients include its namesake Alipay.

Meanwhile, GCash is a Philippine mobile wallet, mobile payments, and branchless banking service. It was introduced way back in 2004 and it is currently owned by Mynt, a company which is a joint venture between Ant Group and Alipay.

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