(Updated 4/30/24)
WowPass is a brand new card/service that’s just been introduced in Seoul. It claims that you’ll be able to “pay like a local” and that it will “solve all the inconveniences of currency exchange/cash payment/credit card/transportation card that foreigners experience when travelling in Korea”. (Note, this largely applies to visitors who don’t have an Alien Registration Card and Korean Bank Account – if you have these, you likely aren’t encountering the kinds of difficulties that others visitors face.)
Those are some pretty big promises! Does it live up to them?
First, how do foreigners currently manage currency exchange/payment/transportation while in Korea, and what are the inconveniences that you might experience?
- For obtaining cash, the easiest thing to do is to use a debit card at an ATM. You typically get better exchange rates than going to an exchange office, and it’s more convenient. You’ll need to use a “global atm” with a foreign card. Though not every ATM will be able to support this, it isn’t too hard to find one that will (and certainly you’ll find them at the major points of entry – airports, train stations…) so I haven’t found this to be much of an issue.
- As far as using foreign credit cards in Korea, it depends on the details of your card. Some cards work without any problem, but some do not (I’m not sure what the reasons are for this). In addition some credit/debit cards charge foreign transaction fees (which can add up to be quite substantial over time), while others do not.
- Buying a transportation card (T-money card) and loading it up with money is very easy, and when you leave Korea, if you have any unused funds, you can get those back.
- The biggest problem and most consistent challenge that I personally have found is that many Korean websites cannot accept foreign credit cards, even those that reliably work in person. This causes problems for foreigners trying to buy tickets on-line for instance, or ordering food or other delivery through websites or mobile apps. This is really the only major inconvenience that I personally have encountered in making my way around Korea, and this is the main issue that I personally hoped WowPass would address. (Note: there are some workarounds for ordering taxis and food and other deliveries using a foreign credit card – see other posts on the SeoulShare blog.)
Now, what does the WowPass do, how does it work, and does it really make things easier? You can buy one at special orange kiosks in key locations (you can check the WowPass site to find locations). There are a fair number of these kiosks (particularly in tourist areas), so you probably won’t have trouble finding one. You’ll need your passport in order to get a WowPass card.
- You charge the card up with cash (WowPass machines can accept a number of foreign currencies.)
- Then you need to download the WowPass app onto your phone.
- At this point, you are supposed to be able to use it to buy things anyplace that accepts a credit card. There are some deals to be found (10% cash back at CU or Starbucks, or 1000 KRW cash back at Olive Young for example). But you have to make sure you have enough money on your card to buy the things you want. This is a bit of a hassle, but of course, the ability to pay using the WowPass if your credit card doesn’t work is a huge advantage. In addition you wouldn’t have to pay the foreign transaction fee for each purchase as you might with your credit card or regular debit card. If you recharge your WowPass at one of the kiosks, you’ll need cash, but you can also do it on-line using your credit card (which would probably generally be more convenient, especially since the special kiosks aren’t ubiquitous.)
- You can also use the WowPass card as a T-money card, though you have to charge up the T-money part separately, at a T-money machine. The app will show you your WowPass balance separate from your T-money balance.
- When you leave Korea, you can get the remaining balances (T-money and WowPass) on your card back.
So is it more convenient? It really depends on the details of your credit card. If your card doesn’t work in Korea, or you have to pay the foreign transaction fees, then it’s probably a real advantage (and the cashback opportunities may provide some additional incentive.) If your credit card works and you’re not paying transaction fees, then probably not.
| WowPass Convenience Claims | True or False? |
| Don’t have to buy a separate T-money card | True, but you still have to charge up T-money function separately (separate from WowPass function, using a different machine). |
| If your credit/debit card doesn’t work, or charges foreign transaction fees, then WowPass is a distinct advantage. (I’ll note that I have had trouble using my WowPass card once or twice, but generally it has worked well.) | True, but if you can get a card without these fees, and your card works in Korea, then this is not an issue. Having to remember to charge up your WowPass account, separate from the T-money function, is slightly inconvenient. |
| Gives good exchange rate (better than money exchangers) | True, but you can get good exchange rates using a debit card at ATMs, or by using your credit card for purchases in stores (again, assuming that your credit card works in Korea and you’re not paying transaction fees.) |
| Some “cash back” deals at some locations |
What about on-line purchases?
The really big thing that I was hoping for was that the WowPass might help with on-line purchases, as this is the major inconvenience that I personally have faced with credit cards in Korea. But currently the WowPass can’t be used on-line at all. So this aspect is rather disappointing, but the WowPass site says “The WowPass card is available for offline payments only at the moment”, so perhaps this is something that they’ll work to address in the future.
About the writer
Hi, I’m Lee, and my husband and I are living in Seoul for the year while I’m on sabbatical. This is the second sabbatical year we’ve spent in Seoul, and we’ve gotten to know the city pretty well. I hope you find this information useful!
