Lotte.com, Korea’s online shopping mall, is to introduce a payment system for Chinese customers in cooperation with “Alipay,” a Chinese online payment service firm with close to 50 percent of the Chinese market share. (image: Lotte.com)
SEOUL, May 21 (Korea Bizwire) – Amid growing purchasing influence of Chinese tourists in the Korean market, the transaction systems of online shopping malls are becoming more and more Chinese-friendly.
Lotte.com, Korea’s online shopping mall, announced on May 20 that it has developed a payment system for Chinese customers in cooperation with “Alipay,” a Chinese online payment service firm with close to 50 percent of the Chinese market share.
An official at Lotte.com said, “After a month of trial period with Alipay, we have confirmed that our overseas payment system works as smooth as silk. Now, customers in China will be able to shop for Korean goods from the comfort of their home.”
The global payment service, which took off last February, includes the international shipping system and ships over 7 million goods to customers in 19 countries, including China, Hong Kong, Singapore, the United States and Japan. A growing number of customers has used the service as the online shopping mall’s reputation of only dealing with authentic products and taking care of the entire delivery process extends its reach to overseas markets.
Among the 19 countries, China is the country with the highest number of customers, as its customers well recognize the brand “Lotte” from duty-free shops and department stores in Korea.
The official added, “We are now able to provide more convenient and safer shopping environment for Chinese customers by implementing Alipay’s online payment system. Furthermore, we plan to examine the use patterns of the service by country, and look to develop customized payment services and products.”
Written by J. H. Kim (jhkim@koreabizwire.com)
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