It is known that the number of Chinese tourists to South Korea is more than 7.58 millions in 2017, which accounts for a quarter of all foreign tourists to South Korea. The huge tourist market makes more and more South Korean merchants to start using Wechat Pay. It sees with year-on-year growth of more than 300 percent in South Korea. Besides Wechat Pay, many South Korean merchants also use other Wechat features such as WeChat Mini-Program and Official Account.
So far, WeChat Pay cross-border business has served 49 countries including South Korea, and it supports direct transactions in more than 16 currencies
How do South Korean companies or individual get WeChat Pay? Here please let me talk about the detailed process below:
Which kind of entities can get Wechat Pay?
Wechat Pay is available to both South Korean companies and individual entrepreneur
Conditions for South Korean companies to get WeChat Pay cross-border:
- Online payment including websites or Mini-Program
Conditions: corporate qualifications, bank account number, ID photo of legal person or shareholder, website address
- Offline payment including convenience stores, supermarkets, restaurants and etc.
Conditions: corporate qualifications, bank account numbers, ID photo of legal person or shareholder, shop heads and in-store photos
Which kind of South Korean individual get WeChat Pay?
All offline businesses run by individual entrepreneur including convenience stores, supermarkets, and restaurants
South Korea WeChat Pay cross-border transaction fee rate
South Korea WeChat settlement cycle:
- Cycle: T+3
- Every three days
How do South Korean company get Wechat Official Account?
South Korean companies can register the WeChat official account with the overseas entity. To get certified with South Korean corporate entity and Mini-Program are available. To apply for a South Korea cross-border official account and Mini-Program, please contact us at firstname.lastname@example.org to get Wechat official account certification in a fast and convenient way.