Liquid Group Expands QR Payment Network in Korea with NICE Paymentsby Fintech News Singapore July 1, 2020
Liquid Group, a regional mobile payment services group headquartered in Singapore, will partner with NICE Payments (“NICE”) as its merchant acquirer in Korea.
Nice Payments, a subsidiary of NICE Information & technology, is the payment specialist of NICE Group, is one of the biggest financial infrastructure group in Korea.
Through this partnership, customers of Liquid Group and its issuer partners will be able to use their preferred payment apps and e-wallets for their local and overseas QR payment transactions at more than 33,000 of NICE’s QR-enabled merchants, including one of the largest duty-free shops in Korea and many other popular tourist destinations. This will be followed by rolling out to over 700,000 of its credit card merchants base at a larger stage. This also expands the international merchant base for Liquid Group and its partners.
Likewise, through Liquid Group’s XNAP Network which supports large-scale QR acceptance and usage in both local and overseas markets, NICE merchants in Korea will be able to support cross-border QR code payment transactions.
Travellers will stand to benefit from a seamless cross-border payment journey using their trusted local payment app to make mobile payments overseas, while enjoying greater convenience and enhanced security features such as the ability to monitor their account balance and keep track of their transactions.
Yoon Kyeong Hwang, CEO of NICE Payments, said:
“It is meaningful to be a strategic business partner with Singapore-based Liquid Group,” and emphasized that, “The partnership with Liquid Group has great significance as NICE Payments will be the first to provide Southeast Asian E-wallet service in Korea, and will lead to great opportunities by creating new growth engine as a global payment platform.”
Jeremy Tan, Founder and CEO of Liquid Group, said:
“We are thrilled to be joining forces with NICE Payments, which has a phenomenal track record in driving payments for over 30 years. It’s a win-win situation for both groups as we share the same vision of accelerating the cashless movement across Asia and making it the super region for QR payments on the global stage.”
Featured image: Mr Hwang Yoon Kyeong (CEO, NICE Payments) with Andrew Ahn (Head of Business Development – North East Asia, Liquid Group) at NICE Payments and Liquid Group strategic partnership signing ceremony