GLN expands QR code payment network in Korea for international travelers

GLN, a subsidiary of South Korean Hana Bank, has significantly expanded its QR code payment network within Korea through a collaboration with Coocon. The integration adds 500,000 Seoul Pay merchants, bringing GLN's total network to approximately 1.5 million merchants nationwide.

The expansion specifically targets international travelers visiting Korea. GLN aims to simplify their payment process at local businesses and services using QR code technology. This new partnership intends to enhance the shopping experience for foreign tourists and promote cashless transactions.

GLN has reported a substantial increase, approximately 1,000 percent, in both the volume and value of QR code payments made by foreign tourists. This indicates a growing demand and acceptance among international consumers. The expanded network is expected to support this trend by offering broader coverage and convenience.

Through the partnership with Coocon, GLN gains access to merchants within the Seoul Pay system, significantly increasing the number of available payment points. The company anticipates this will improve the accessibility of payment services for international visitors and encourage the use of digital payments in the tourism sector.