Global payment platform Paymentwall has announced a new partnership with Toss, a mobile financial platform in Korea operated by Viva Republica.
Initiating the new partnership will provide companies around the world with access to South Korean users and markets through this local payment method.
Benoit Boisset, COO of Paymentwall, said: “Our primary goal in South Korean was simple – to create a seamless payment experience and help merchants grow globally with our diversified payment options. And that’s the reason we partner with Toss.”
Paymentwall will integrate Toss into its global payment platform, enabling merchants to access and process transactions in South Korea with Toss’ payments channel.
Boisset continued: “ We hope to bring a one-stop payment solution to global merchants entering into the Korean market, and allow them to conveniently monetise products and services from local Korean end users through Toss. We look forward to working together with Toss to create more values for our customers.”
Toss has over 11 million registered users, which accounts for 20% of the country’s total population and possess a transaction run-rate of $26 billion.
It delivers a full range of consumer financial services, including online payments for both physical and digital goods.
”We are pleased to have a new partnership with Paymentwall. a global payment platform. By having the partnership, we are expecting to provide Toss users with the seamless payment option at the merchants of Paymentwall,” commented Jaemin Jung, partnership manager of Toss payment team.
“Moreover, integrating Toss payment into Paymentwall will hopefully play a valuable role in expanding overseas as a foundation.”
Paymentwall has had a presence in South Korea since the establishment of its Seoul office in 2015.
In the past few years, the firm has cooperated with major Korean companies such as LG Electronics, Kakao Games, Samsung, Vertigo, and Webzen.