Paymentwall adds more ways for international businesses to reach out to the Korean market by integrating local payment methods.

[Seoul, South Korea­ – December 7, 2015] — Paymentwall has recently integrated Korean payment methods, such as local credit cards processing in Korean Wons, online bank transfers (Kookmin, Jeonbuk, Busan Bank, and more) and cash-based payment methods (Culture voucher, Teencash, Happymoney, others), to connect international businesses to the Korean market.

“By including new payment methods in the third-largest retail e-commerce market in the Asia Pacific, Paymentwall can create more opportunities for international businesses to monetize Korean users,” said Daniel Lee, Product Manager of Paymentwall. “We at Paymentwall will make sure to deliver quality and secured services that result to a personalised and seamless payment experience.”

The integration of the new payment methods allows merchants to reach out and maximize their revenue with the local market’s high purchasing power. According to a Cross-Border Ecommerce Community report by The Paypers, the Korean market has over 100 million credit cards in rotation, with an average of 4 cards owned per household. In terms of online transactions, approximately 80 per cent are done through card payments.

Considering the high penetration of credit cards in the country, Paymentwall will process local credit card payments in Wons, to offer a more convenient experience for shoppers. Paymentwall has also integrated with the major Korean banks (Kookmin, BC, Shinhan, Samsung, Hyundai, Lotte, NH, Citi, Hana, Woori, Jeju, Soohyup, Jeonbuk, Kwangju, Industrial bank of Korea, KyungNam bank, Busan Bank, Korea Exchange bank, and Korea Standard Chartered Bank), for users who prefer to pay with online banking.

For those who have no credit cards and bank accounts, Paymentwall also offers cash-based payment methods. Supported cash-based methods are Culture voucher, Book Gift voucher, Teencash, Happymoney, T-money, EggMoney, Cashbee and OnCash.

Paymentwall already has a presence in the country with Mobiamo and MINT. Mobiamo is a global mobile payment solution which enables online businesses to accept payments from any mobile phone user globally. MINT is a prepaid solution that offers an alternative to credit cards or bank transfers for online payments.

About Paymentwall
Paymentwall Inc. is the leading global payment and content distribution platform for a wide range of digital goods and online services. Paymentwall partnered with over 140 payment option providers worldwide to offer global payments coverage for users in more than 180 countries with credit and debit cards, mobile payments, e-wallets, bank transfers and prepaid cards. Paymentwall is headquartered in San Francisco, USA with 10 more offices around the globe.