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South Korea’s Lotte.com Inks Internet Payment Deal With China’s Alipay – FintekAsia


South Korea’s Lotte.com Inks Internet Payment Deal With China’s Alipay


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News Source: ChinaTechNews.com

Chinese third-party Internet payment company Alipay revealed that the company has reached a deal with South Korean website Lotte.com to provide a RMB payment channel to Chinese users who shop on the website.

Furthermore, the products purchased on the website will be directly shipped from South Korea to China.

Lotte.com and the Lotte duty free store both belong to Lotte Group, one of the largest retail groups in South Korea. Prior to this, Alipay teamed with Lotte Group in providing convenient services to Chinese tourists who have a tight schedule in South Korea. With the services, those tourists can make online purchase from Lotte duty free store and pick up the goods offline in the store.

Alipay previously reached a cooperation deal with Japan's Rakuten on April 21, 2014, to provide Alipay online payment services on Rakuten's cross-bo...



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