Samsung Electronics Signs Deal with Tencent, Woori Bank to Expand Samsung Wallet Money Overseas; Shares Jump 6%
MT Newswires Live10-27 11:16
Samsung Electronics (KRX:005930) signed a business agreement with Tencent (HKG:0700) and Woori Financial Group (KRX:316140) subsidiary Woori Bank to support the Samsung Wallet Money overseas payment service, the chipmaker said in a Tuesday release.
Under the agreement, the three parties will launch Samsung Wallet Money QR payments in China, allowing South Korean users to pay at WeChat Pay merchants via the service. The companies also plan to boost their long-term cooperation in digital payments, it said.
Shares of Samsung Electronics added nearly 6% in recent trading, while those of Woori Financial Group fell nearly 1%.
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