Samsung has announced that Samsung Pay's integration with Naver Pay will start in South Korea tomorrow. Naver Pay and Samsung Pay are among the biggest mobile payment services in the country, and they're collaborating to compete with Apple Pay which recently entered the South Korean market.
This collaboration enables Samsung Pay users to pay for products and services online to more merchants that support Naver Pay. There are more than 550,000 merchants in the Naver Smart Store. When users click on General Payment through Naver Pay's online payment service, they can now see a separate option for Samsung Pay.
Naver Pay users can pay for products and services when they shop offline using Samsung Pay's NFC or MST service. This feature can be used at almost all offline stores in South Korea.
Last month, the two companies signed an agreement to integrate their mobile payment services. They will continue to collaborate to make mobile payments even easier in the future. Unlike these two services, Apple Pay charges customers, merchants, and participating banks, and Samsung Pay and Naver Pay could go that route in the future.
