Visa has partnered with fintech company DealMe to enable Vietnamese shoppers visiting South Korea to make purchases using card instalment payments.
Cardholders with locally issued Visa credit cards in Vietnam will soon enjoy access to real-time instalment offers at major merchants in South Korea. According to Visa data, 75% of Vietnamese consumers plan to travel for leisure next year, with South Korea being the top destination for 18% of these travelers.
When shopping at participating merchants, including duty-free shops and department stores, Vietnamese customers will have their cards checked for eligibility for the cross-border instalment service.
DealMe is currently piloting this service in South Korea and aims to expand to other markets, including the United States, Australia, Japan, and Singapore.
Kim Tae Hong, SVP of DealMe, expressed enthusiasm about the collaboration, stating, “We are delighted to partner with Visa to enable card instalment payment on cross-border transactions, providing consumers with an additional payment option when traveling overseas.”