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Naver Pay is a mobile payment service in South Korea developed by Naver Corporation, a South Korean internet conglomerate that operates its eponymous search engine. The company is also known for its e-commerce ecosystem, webtoon platform and photo editing app, SNOW.
As an integrated payment platform, Naver Pay provides users with the ability to complete transactions on various digital platforms, including Naver Shopping and affiliated merchant sites.
This guide aims to inform global merchants about Naver Pay’s functionalities, market relevance, and integration possibilities, particularly within the Korean market.
The history of Naver Pay
Naver Pay is a payment platform designed to streamline digital transactions for individuals and businesses. It was launched in 2015 as a way to make payments and transfer funds within Naver’s ecosystem; over time, its feature set was supplemented through regular updates.
As of January 2025, Naver Pay exceeded 30.6 million users, or about 60% of the entire South Korean population.
The payment platform is particularly popular within South Korea and works seamlessly across Naver's ecosystem, including its e-commerce platforms. According to a survey conducted in 2023, Naver Pay was the most widely used mobile payment service in South Korea, with 20% of respondents using it. Naver Pay’s customer base now spans various demographics, including younger digital-native users and urban professionals.
Naver Pay supports various payment methods, provides robust security, and serves as a convenient tool for enhancing payment processes, both online and mobile. Given the platform’s popularity and feature set, merchants catering to South Korean consumers — whether locally or cross-border — tend to consider Naver Pay as a payment choice.
Key features of Naver Pay
1. Integration with Naver ecosystem
Integrated within Naver’s broader ecosystem, which spans e-commerce, content, and digital services, Naver Pay offers users a seamless and consistent payment experience across multiple platforms and touchpoints.
2. Points system
Users who pay for purchases with their Naver Pay account can accumulate Naver PAY Points, which function similarly to cash. Over half of its users in 2024 – amounting to some 16.5 million users – accumulated more than 10,000 Korean won in points every year. Over two million users accumulated points from promotions with Naver partners that provided mortgage loans, monthly rent loans, credit loan comparisons, overseas travel insurance, and auto insurance services.
3. Naver Pay Wallet
This relatively new feature was introduced through an integration with blockchain technology provider Chiliz Chain. The Naver Pay Wallet is a digital assets wallet that can store NFTs and other blockchain-based assets.
Types of payments that Naver Pay users can make
1. Online payments
Naver Pay integrates seamlessly with e-commerce websites, mobile apps, and Naver’s own services like Naver Shopping. Naver Pay is optimised for mobile payments, making it accessible for purchases completed via smartphones or tablets.
2. Offline payments
Naver Pay users can use a QR code to pay at partnering offline stores. When it was launched in 2020, this feature could be used at over 70,000 offline locations, including coffee shops, AK Plaza department stores and GS Caltex gas stations. That number has grown in the years since.
3. Cross-border payments
Naver Pay users can scan QR codes generated by WeChat Pay or Alipay and other payment gateways, then pay with their Naver Pay points or Naver Pay Money. The cash amount in Korean won will be directly debited from the linked balance account.
As of 2024, Naver Pay’s Overseas QR Payment service can be used in 58 countries and regions around the world. Alternatively, the Naver Pay Money Card can pay for transactions in over 140 countries and regions.
Approximately 310,000 users utilised Naver Pay’s overseas payment services, reflecting the platform’s expanding global reach.
4. Smartwatch payments
Thanks to integrations with Samsung, Naver Pay users with a Wear OS smartwatch (Galaxy Watch 4 or higher) can conduct on-site payment without a smartphone.
Accepting Naver Pay for merchants
Naver Pay’s customer base consists mostly of South Korean users, particularly those shopping via Naver Shopping or related e-commerce platforms. It is increasingly used for cross-border transactions, especially as part of online shopping experiences where international merchants offer products to Korean customers.
1. Streamlined payment process
Online, like on e-commerce websites, customers initiate payments by selecting Naver Pay as their checkout option. Payment can be completed using their Naver Pay balance, linked credit/debit cards, Naver Pay points, or a combination of different payment methods. Customers can optionally use their Naver Pay points to pay for their purchase.
Offline, customers can scan a QR code or tap their Naver Pay-enabled mobile device. The payment will be automatically deducted from their account once they approve payment.
2. Instant payment updates
When a customer makes a payment, they will be directed to the merchant’s processor partner to authenticate and authorize the payment. After the customer authorises the payment, they will be redirected back to the merchant’s site.
Payments typically go through an instant bank transfer process, or are authorised via stored card details. Merchants receive transaction updates upon payment completion, ensuring transparency and accuracy in the settlement process.
3. Secure payments
To ensure secure payments, Naver Pay employs encryption, multi-factor authentication, and fraud monitoring mechanisms to protect users and merchants. Naver Pay employs strong authentication protocols during the payment process, so customers may be asked to enter their personal PIN, scan biometrics, or enter an OTP (One-Time Password) sent to their Naver account or phone.
4. Post-purchase customer analysis
Merchants using Naver Pay as part of their payment options may benefit from insights into Korean consumer behaviour, as provided by Naver Corporation’s data-driven tools and analytics.
Naver Pay integration options for merchants
Merchants can work with Naver Corporation or third-party solutions to incorporate Naver Pay into their payment platforms. This often involves using APIs to enable direct integration into e-commerce sites or applications. Payment solution providers like Antom also help make Naver Pay integration quick and easy.
For offline transactions, merchants around the world can accept Naver Pay QR payments without additional integrations as long as they are affiliated with one of Naver’s banking partners. For example, Naver partners with Hana Bank, which operates the GLN International network in eight Asia-Pacific regions, including Thailand, Taiwan, Laos, Singapore, Cambodia, Guam, Saipan, and Hawaii. Millions of merchants are part of this network.
To use GLN’s service, users may click the NPay logo on the QR payment tab of the Naver Pay app and select GLN from the pop-up. The service will automatically adjust to the user's current location, displaying the logo of the local payment provider partnered with GLN International for that region. Merchants will receive payment in their local currency, not Korean won.
Start accepting regional wallets like Naver Pay with Antom
Naver Pay is one of South Korea’s leading payment methods, offering a reliable, secure, and efficient solution for digital financial transactions within the Naver ecosystem. For global merchants with operations in the Korean market, Naver Pay serves as a key payment platform for engaging with local consumers.
While its functionality is regionally focused, Naver Pay increasingly supports cross-border transactions for online shopping purposes. Want to know more about how to accepting Naver Pay payments online or in-store? You can contact Antom to learn how a single integration can help you accept payments from Naver Pay and hundreds of key payment methods globally.
