Ant Financial Services Group’s business unit Alipay, the biggest online payment service and lifestyle platform, has reportedly announced its collaboration with a tax refund organization - GTF (Global Tax Free). This collaboration is aimed at establishing the first paper free mobile tax refund solution in South Korea. Incidentally, this
For the uninitiated, Alipay has always found innovative solutions that make customer experience easier, especially related to tax refund procedures. According to the Digital Journal, the beginning of the year 2017 witnessed the online payment firm commencing the operations of a real-time tax refund service in the European continent. Sources familiar with the matter claim that this service helped users to receive tax rebate instantly in the associated Alipay account by just scanning the company’s QR code at tax counters in the airport.
Danny Chung, Alipay Korea’s General Manager, has been quoted stating that Alipay has always tried to refine tax refund technology to ensure maximum convenience and comfort for Chinese tourists during outbound travel. Currently, the users of this online payment service can claim refunds at over eighty airports.
Danny Chung added that this collaboration would be beneficial for both the companies in leveraging their technical expertise to fabricate an optimal tax refund system in South Korea for outbound users.
Chung further said that this technology would significantly empower users as they need not stand in long queues for availing tax refund, a simple mobile process would be enough without any paperwork. He also pointed out that this will reduce the time taken in getting refunds by making speeding up processes considerably.
For the record, South Korea is rated as the most suitable tourist destination to avail tax refund. Sources claim that nearly 10,000 business merchants in the region carry out transactions with Global Tax Free (GTF) tax refund service.