SOUTH KOREA. Lotte Duty Free has signed a Memorandum of Understanding (MOU) with Alipay+ in what the retailer described as a “pre-emptive” move for the post-COVID market through an easy payment infrastructure for foreign customers.
Alipay+ is a global cross-border payment and marketing solution launched by Ant Group in 2020.
The country’s leading travel retailer (and world number two behind China Duty Free Group) said that the Alipay+ digital payment solution will enhance duty free shopping convenience for customers in China and Southeast Asia where credit card penetration is low. Lotte Duty Free will also launch the Lotte Internet Duty Free Mini Program within the Alipay app.
Lotte Duty Free introduced AlipayHK for the first time in Korea’s duty free industry in April 2021 to improve accessibility for foreign shoppers. Payment systems were additionally launched in four markets, including Malaysia, the Philippines and Indonesia, with Japan and Thailand set to follow.
Lee Kap said, “This agreement will solidify the cooperative relationship that has been in place since 2021 and will serve as an opportunity for Lotte Duty Free to start global marketing again. We will establish the best duty free shopping infrastructure for foreign customers who visit Korea during the post-Corona era.”
From March, Chinese customers will be able to shop on the Lotte Internet Duty Free platform within the Alipay Mini Program, an app-in-app platform that allows companies within the Alipay ecosystem to provide their own services without the need to download a separate application.
