SOUTH KOREA. Shinsegae Duty Free has joined forces with Korean fintech firm DealMe to launch NanuPay, a cross-border instalment payment service at its Myeong-dong flagship in Seoul. The programme extends flexible payment options to overseas-issued Visa cardholders, eliminating the need for full upfront payment..
Hailed by the company as a first for Korean travel retail, the service allows international shoppers to choose instalment payments at checkout using their existing Visa card, without requiring a new card or app download.
The service is initially being launched on a pilot basis for Vietnamese customers, with Shinsegae Duty Free planning to expand it to its Incheon International Airport store following the Myeong-dong launch.
The expanded payment option also supports growing demand for high-value categories such as cosmetics, fashion, watches and jewellery, enhancing shopping convenience for foreign tourists, said the company in a statement.
Shinsegae Duty Free said the service will help lower barriers to high-value purchases, contributing to higher conversion rates and increased sales.
The initiative is also expected to support Shinsegae Duty Free’s efforts to enhance the shopping journey at its Myeong-dong store, a high-traffic destination where the retailer continues to broaden its payment options and customer convenience programmes for international tourists.
Through its partnership with DealMe, Shinsegae Duty Free plans to expand the service to additional markets.
Eligibility for instalment payments and applicable terms will vary depending on card issuer policies, card product type and individual customer usage conditions.
A Shinsegae Duty Free spokesperson said: “The launch of NanuPay is significant as it allows foreign customers to use instalment payments with their existing overseas-issued Visa cards.
“We will continue to expand payment services and customer convenience programmes so global travellers can enjoy a more seamless duty-free shopping experience.” ✈
