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Mastercard and Alipay Team to Advance Contactless Payments in Korea
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News Archives | PYMNTS.com
Mastercard and Alipay have teamed to promote contactless payments in South Korea.
With this partnership, Kakao Pay becomes one of the first Alipay+ mobile payment partners to introduce “tap-to-pay” offerings when its users travel abroad.
Advertisement: Scroll to ContinueNFC payments let users simply tap their NFC-enabled Android phone on a contactless point-of-sale (POS) terminal that accepts Mastercard.
As PYMNTS wrote earlier this year, contactless transactions, backed by innovations like mobile wallets, tap-on-mobile and open-loop transit payments, are becoming the expected go-to payment method.
“Customers can feel comfortable that their contactless transactions are just as secure as the contact-based transaction that they are used to,” Malikayil said.
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