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I am planning to have an online business targeting South Korea.

It seems that most Korean payment gateways only support Internet Explorer and Windows. It is severely limited for other browser and platform users to access to most Korean commercial websites. But I would like to support to all users.

I found a couple of cross-browser/platform Korean payment gateways, but they are more expensive than others. (fee for each transaction 3.5-3.8%, while regular payment gateways pay around 3.1-3.4%)

Would there be a solution for this? Would there be a better way to use a foreign payment gateway?

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1 Answer

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I happened to answer my own question.

Although the transaction fee is not low (3.5%), PayGate seems to be a great choice. It has some fairly decent insurance policy suitable for small business companies and startups. Moreover, the initial cost and annual fee is only 100,000 won (less than $100).

In addition, I believe this is the only Korean payment gateway that supports cross-browser and cross-platform payment services. I at first did not trust this payment gateway, but some trusted Korean websites use this (Aladin Bookstore, Apple Korea)

As an alternative, but still in incubator, MasterCard Payments seems to be great because I believe it's going to be cheaper, support Korean currency, and cross-platform. If this is officially released, we are planning to reconsider our payment system.

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South Korean government starts to officially drop Active-X in e-commerce. In addition, most of major Korean payment gateways accounted that they are developing cross-platform payment systems. I'm hoping to get some great news within a few years. – Ryan Rho Jan 17 '12 at 19:04
PayGate seems the only non-activeX Korean payment gateway :( – InspiredJW Sep 11 '12 at 10:46

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