DigitalCFO Newsroom | 28 September 2022
QR payment service available in 32,000 sub merchants in Singapore, covering Hawker Centers, Changi Airport.
GLN International (CEO Jun-seong Han), a global financial network that facilitates cross-border mobile QR payments and ATM cash withdrawals for e-wallets and banking applications, announced to have expanded its service area to Singapore and Vietnam.
GLN users not only the benefit from the convenience of payment but also low transaction fee compared to credit or debit cards with the launch of QR payment service in Singapore, through GLN’s local partnership with Liquid Group.
Liquid Group, a Singapore-based mobile payment platform service provider, is operating the XNAP QR payment network in 32,000 affiliated stores including hawker centers and Changi Airport.
The service is customer-friendly which has become a primary payment option for travelers in Thailand, resulting in exponential growth of monthly transactions, expected to help the journey of travelers in Singapore as well.
In addition to QR payment in Singapore, GLN added QR withdrawal service which allows Koreans traveling to Vietnam to take out cash conveniently from about 1,600 ATM devices located in major tourist attractions and shopping malls by partnering with the biggest commercial bank in Vietnam, BIDV (Bank for Investment and Development of Vietnam).
Previously, tourists using ATM withdrawal service overseas were charged with foreign transaction fee with expensive FX rate while facing the risk of card skimming.
However, this cross-border cardless withdrawal service developed for the first time as a Korean fintech company is expected to enhance the user experience by allowing customers to withdraw from ATM simply by QR authentication.
GLN International is a fintech subsidiary spun off from Hana Bank for its global network business in July last year, which currently provides services in Hong Kong, Japan, Laos, Taiwan, Thailand, and Vietnam.
GLN aims to provide the best customer experience by forming a global alliance with financial companies.
GLN’s CEO Han said “Singapore and Vietnam are the key countries of southeast Asia as we carry out an innovative global payments network business. We hope the performance in the region would be the cornerstone for the expansion of our global business.”