TenPay Global, Samsung Wallet and Woori Bank launch China QR payments for Korean users
Samsung Wallet Money & Points users can pay at participating WeChat Pay merchants in mainland China without downloading another app or exchanging currency, according to the launch partners.
TenPay Global, Samsung Wallet and Woori Bank launched a China QR payment service on October 27 for Korean Samsung Wallet Money & Points users.
The service allows eligible users to display or scan a QR code in Samsung Wallet and pay participating WeChat Pay merchants across mainland China without downloading another payment app or exchanging currency in advance, according to the partners.
The launch illustrates how cross-border payment providers are hiding settlement and currency conversion behind a familiar domestic wallet. The consumer experience may be simpler, but users still need to understand exchange rates, eligibility, merchant acceptance, refunds, disputes and the source of funds used for the payment.
The partners said the service has no overseas payment fee and awards Samsung Wallet points equal to 0.3% of offline purchase amounts with no stated cap in the launch materials. Availability and rewards remain subject to the service’s terms and participating merchants; the announcement did not promise universal acceptance across China.