Zalopay launches international tuition payment service in Korea

ZION Joint Stock Company, the operator of the Zalopay payment application, has just announced cooperation with two leading Korean financial-technology partners, Danal and Shinhan.

Representatives of Zalopay, Danal and Shinhan Bank leaders at the signing ceremony of the cooperation agreement.

The cooperation agreement focuses on implementing an international tuition payment service in Korea. Through the Zalopay or VietQR application, users can conveniently pay tuition fees without having to go through complicated international money transfer procedures. The service is expected to be deployed from the end of July, during the peak time for autumn tuition payments at Korean schools.

In recent years, Korea has continued to be a popular study abroad destination for Vietnamese students. According to the Korean Ministryof Education , as of April 2024, the number of Vietnamese students studying at Korean universities and language training centers reached 56,000, accounting for 26.8% of the total number of international students, second only to China.

Parents are currently facing some inconveniences when paying tuition fees such as complicated procedures, long processing times or additional costs. Some schools require students to have a bank account in Korea, which can be confusing at first when they are not familiar with the way things work in a new environment.

To solve the inconvenience of paying international tuition fees, Zalopay cooperated with Danal and Shinhan Bank to deploy a payment solution in Korea. Parents can easily pay tuition fees through the Danal payment gateway by scanning the VietQR code - a payment QR code provided by Zalopay, compatible with most banking applications and e-wallets in Vietnam - or pay directly using the Zalopay application. Not only saving time, the solution also helps parents and students reduce complicated procedures by not having to directly handle foreign currency or go through other service organizations.

In the initial implementation phase, more than 96 universities in Korea will apply international tuition payment via Danal and Shinhan Bank. Integrating Zalopay into the system promises to promote strong service development, expanding the scope of service to more users in the near future.

Speaking at the signing ceremony, Mr. Tran Ba ​​Khoi Nguyen - Deputy General Director of Zalopay - said: "We expect the cooperation between Zalopay, Danal and Shinhan Bank to bring a more convenient and secure payment solution to Vietnamese parents and students. At the same time, it will help reduce difficulties in the payment process, effectively supporting the international student community."

Mr. Moonho Jung – Head of Institutional Solutions Division No. 2, Shinhan Bank – said: “ We are honored to cooperate with Zalopay, a leading fintech company in Vietnam. This cooperation lays the foundation for a more convenient and secure tuition payment experience for Vietnamese families. We expect to continue to expand our cooperation to bring innovative, customer-centric financial services that transcend national boundaries.”

Mr. Jin Chang-yong – Director of Business Division, Danal – shared: “Danal provides convenient and innovative payment services in both Korea and the international market. In particular, the international tuition payment solution is currently the most widely deployed service at Korean universities. We will continue to strive to bring fast and reliable services to Vietnamese parents and students. At the same time, Danal also wishes to cooperate closely with Zalopay to provide useful payment solutions for Vietnamese people living and traveling in Korea.”

Starting with a tuition payment service for international students in Korea, Zalopay aims to gradually expand its network and services to other countries, especially markets with a large number of international students. In the coming time, Zalopay will actively coordinate with related parties, accompanying and serving Vietnamese people on their journey to the international market.

Source: https://nhandan.vn/zalopay-ra-mat-dich-vu-thanh-toan-hoc-phi-quoc-te-tai-han-quoc-post888258.html