Alipay+ signed a Memorandum of Understanding (MoU) with Hyundai Department Store to expand customer interaction and strengthen the parties’ global positions.

Under the new MoU, Hyundai Department Store will host Alipay+ pop-up stores to showcase essential services of AntGroup’s payment system, while Alipay+ will introduce Hyundai Department Store branches on its platform among Korean attractions.

One of the first collaborative initiatives is scheduled for June 6 – 26. At that time, Hyundai Seoul will host a pop-up store for the EUFA EURO 2024 European football games, for which Alipay+ is an official payment partner.

“The collaboration with The Hyundai Seoul will not only be an opportunity to promote Alipay+ as an official payment partner of the EUFA EURO 2024 games, but also a chance to enhance unique experiences and payment benefits for global travelers to Korea.”

Hyung Kwon (Danny) Chung, General Manager of Alipay+ Korea, Europe, Middle East and Mongolia, Ant International

According to a BusinessKorea report, the partnership will provide convenience and numerous benefits to global tourists to Korea. The partners’ joint creative projects will help boost international visitors’ shopping volume in Korea and lessen the burden on customers from high exchange rates.

In addition, the two parties plan to occasionally offer discount benefits to Alipay+ partner wallet (e.g., AlipayHK, GCash, or Touch ‘n Go) users at Hyundai Department Stores. Moreover, Hyundai Seoul and Alipay+ aim to offer a variety of marketing activities and promotions during golden holiday periods in key target markets, such as China’s Mid-Autumn Festival.

Hyundai Seoul is the largest department store in Seoul. It hosts all of the local trendiest restaurants and cafés, as well as pop-up stores from over 170 brands. The store also often hosts?experience exhibitions by popular brands and influencers.

At present, Alipay+ covers 1.7 million merchants across Korea thanks to collaboration with local partners among food and beverage brands, retail stores, duty-free and department stores, convenience stores, and key Seoul city attraction sites.

The partnership is another brick in a row of Alipay initiatives aimed at international tourists in supported Asian countries. Thus, in 2023, the payment solution expanded to Thailand to enhance the travel experience and further promote Thailand as an attractive and sustainable destination for travellers.