5 days ago
Jeju buses go contactless for foreign tourists with Visa cards
Global payment network Visa has rolled out open-loop payments on Jeju Island for international travelers to pay bus fares with their existing Visa cards, marking the launch of Visa's open-loop transit payment system in South Korea.
Open-loop payments let commuters use their Visa cards or mobile payment apps for transit fares. The system runs on the EMV — Europay, Mastercard and Visa — global payment standard, enabling contactless payments via credit, debit and prepaid cards.
Passengers can tap not only physical cards but also smartphones, smartwatches and other devices.
Jeju's municipal government signed a contract in March with Visa and other global payment providers to expand contactless payment infrastructure in the region. Jeju Island aims to use this project to develop transportation infrastructure that supports various domestic and international payment methods.
First introduced in London in 2012, the EMV open-loop transit payment system is now used in major cities such as New York, Hong Kong and Singapore. It has processed more than 2 billion transactions worldwide, more than doubling in volume since 2022.
'We have faced increasing calls to introduce the open-loop commute payment system as more foreign tourists visit Korea amid rising global interest in Korean culture,' said Patrick Storey, Visa's Korea country manager. 'We hope this introduction delivers a more convenient experience for foreigners, while strengthening Jeju's transportation infrastructure as a global tourist destination.'
