Naver Corp., South Korea’s largest internet company and operator of the country’s leading search engine, is expanding its presence in Asia’s fast-growing cashless travel economy through its Naver Pay mobile payments platform.
The company said overseas QR payment volume in China and Japan during the first five months of this year increased 4.5 times compared with 2024, when the service was first introduced, highlighting growing demand for digital payment options among travelers across the region.
While China and Japan remain Naver Pay’s biggest overseas markets, growth is increasingly coming from other major Asian destinations. Transaction volume in Hong Kong rose 50% from a year earlier during the January-May period, while Singapore recorded a 44% increase, suggesting that the use of mobile payments is spreading across the region’s tourism hubs.
Naver Pay allows users to make purchases overseas through smartphone-based QR payments without carrying physical cards or exchanging cash. The service is now available in 72 countries, giving it one of the broadest international networks among South Korean digital payment providers.
The expansion comes as intra-Asian travel continues to recover and consumers increasingly favor cashless transactions. Across much of Asia, QR payments have become a common way to pay for everything from meals and retail purchases to transportation, creating opportunities for payment providers seeking to capture spending by regional travelers.
To strengthen its position, Naver Pay has expanded partnerships with major local payment networks. In China, the platform is connected to Alipay+, UnionPay and WeChat Pay, enabling users to make payments at tourist attractions, shopping centers and restaurants across the country. According to the company, Naver Pay is the only South Korean digital payment platform linked to all three major Chinese payment systems.
User growth has also accelerated in several markets. The number of first-time overseas QR payment users in May increased 28% from the previous month in Japan and 25% in China. Macau recorded a 14% increase, while Thailand and the Philippines saw new-user growth of 36% and 44%, respectively.
Industry observers say overseas expansion is becoming increasingly important for South Korean fintech companies as competition intensifies in the domestic payments market. Cross-border transactions tied to tourism and business travel are emerging as a key battleground as companies seek new sources of growth beyond South Korea.
Rewards programs have also helped boost adoption. Naver Pay said the user receiving the largest benefits through overseas QR payments over the past year accumulated more than $280 in reward points and discounts. Among all users who received rewards, one in 10 earned benefits worth more than $13 annually on average.
The company has recently expanded travel-related promotions, including programs offering 10% of spending back in reward points when overseas QR payments are used alongside roaming services or travel insurance.
“We will continue improving the service so users can experience the convenience and benefits of overseas QR payments in more places,” a Naver Pay official said.
