Samsung, Tencent, and Woori Bank partner for WeChat Pay integration

Samsung Electronics, Tencent, and Woori Bank have signed a business agreement in Shenzhen to expand the international capabilities of ‘Samsung Wallet Money.’ This partnership allows South Korean Samsung Wallet users to make QR code payments at WeChat Pay merchants across China.

Users can facilitate transactions by either displaying a payment QR code from the Samsung Wallet app for staff to scan or by scanning the merchant’s QR code directly. The service features no foreign transaction fees and offers unlimited ‘Samsung Wallet Points’ rewards, accumulating 0.3% of the transaction amount for offline payments.

In addition to QR payments, Samsung is introducing NFC-based contactless payments to enhance the global usability of Samsung Wallet Money. The three companies plan to expand QR payment options to include credit cards in China by the first quarter of next year.