What new payment service does this collaboration enable for international customers in South Korea?

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Cross-Border Card Installment Payments for International Customers in South Korea

Visa and DealMe have partnered to introduce a new cross-border card installment payment service, allowing international customers, particularly Vietnamese cardholders, to make purchases in South Korea and pay in installments. This service enables eligible Visa credit cards issued locally to access real-time installment offers at participating merchants, providing enhanced repayment flexibility for travelers.
Real-Time Installment Offers for Travelers

Vietnamese consumers, with 75% planning leisure travel next year and South Korea being a top destination, will soon benefit from this new service. Cardholders using locally issued Visa credit cards in Vietnam can now access real-time installment offers when shopping at select merchants in South Korea. The service allows consumers to choose their preferred installment duration and complete their transactions seamlessly.
Enhanced Payment Flexibility at Participating Merchants

This collaboration facilitates card installment payments for foreign customers at participating merchants in South Korea, a capability previously unavailable. When an international consumer uses their Visa card at a participating merchant, the card's eligibility for the cross-border installment service will be assessed. If approved, the customer can then select their installment plan.
Pilot Launch and Future Expansion Plans

DealMe intends to leverage Visa's extensive global network for this initiative, following a Memorandum of Understanding signed in November 2024. The service will initially be piloted in South Korea in collaboration with Visa. Subsequently, DealMe plans to expand this cross-border installment payment service to other key markets, including Vietnam, the United States, Australia, Japan, and Singapore.

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What new payment service does this collaboration enable for international customers in South Korea?

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