Worldline, one of the leading players in global payments and transactional services, announced today that the company is expanding its e-commerce payment solution to meet the needs of the businesses in South Korea in an effort to help them expand their online operations in the country.
Additionally, businesses looking to enter the South Korean market can take advantage of the services from Worldline. South Korea is one of the world’s largest economies. The country has introduced several measures in the last few years to increase the adoption of digital financial tools in the region. South Korea saw $9.5 billion worth of cross-border e-commerce transactions in 2020.
According to Worldline, the company’s recent entrance into the South Korean region is an integral part of its strategic global approach to facilitate businesses in high-growth markets around the world. The payment solution follows propositions already launched for Brazil, China, India and Russia.
“South Korea is one of the largest and most digitally advanced markets in Asia, making it an exciting opportunity for almost every large online business. The solution we built cuts through the complexity and optimizes payment performance across the board,” Roger Niederer, Chief Market Officer Merchant Services at Worldline, commented on the announcement.
Also, Worldline reported strong financial results in Q3 of 2021. The company's revenues reached €960 million during the third quarter. Moreover, the payments giant increased its acquisitions in 2021. Worldline recently completed the acquisition of Handelsbanken’s card acquiring activities in the Nordic region.
South Korea
Furthermore, Worldline highlighted the growing payments market and transactional opportunities in the South Korean region. With an internet penetration rate of 97%, South Korea is one of the most digitally advanced nations in Asia.
“Following in-depth analysis of the market’s potential, Worldline has gained extensive expertise of South Korea’s financial ecosystem, which will ultimately help merchants abide by local rules and regulations,” the company added.
