[Edaily Reporter Shin Yeong-bin ] SamsungElectronics(005930)There is speculation that Samsung Wallet may introduce a local Chinese QR payment feature. If integrated with Tencent’s payment network, this is expected to enhance the convenience of overseas payments for Galaxy users.

According to the information technology (IT) industry on the 13th, SamsungElectronics is reportedly discussing plans with Tencent and Woori Bank to integrate Chinese QR payment functionality into its mobile payment service, “Samsung Wallet Money.”

China is a market where QR payments have become widespread, centered around WeChat Pay and Alipay. Payments using QR codes are widely used at restaurants, convenience stores, and small shops.

Foreign visitors can also make payments using WeChat Pay by registering their internationally issued cards, but they must go through procedures such as installing a separate app, signing up, and registering their cards. Some domestic mobile payment services also support Chinese QR payments.

Once the local QR payment feature is added to Samsung Wallet, Galaxy users are expected to be able to make payments in China through the Samsung Wallet app they already use. Details regarding the implementation method, launch date, and currency exchange and fee structures have not yet been confirmed.

Samsung Wallet Money is a prepaid, rechargeable mobile payment service launched through a partnership between SamsungElectronics and Woori Bank. Users can top up their balance in the Samsung Wallet app and use it for payments and money transfers.

According to Woori Bank, Samsung Wallet Money and Points surpassed 2.5 million subscribers as of last July. Woori Bank has been expanding its domestic offline payment network to include retailers such as Daiso, CU, and GS25.

Tencent is also expanding access to China’s QR code payment network for international users. As of last May, it was collaborating with more than 40 overseas e-wallet providers and had completed integration with 36 of them.

Since last August, PayPal users in the U.S. have also been able to use QR payments at WeChat Pay merchant locations in China. This system allows international users to make payments at merchants in China using the payment apps they are accustomed to using in their home countries.

If Samsung Wallet joins this payment network, it is expected to broaden the range of local payment options available to Korean Galaxy users in China.

SamsungElectronics has stated that it cannot confirm whether it is collaborating with Tencent.