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Seoul’s New QR Code Payment for Taxis to Prevent Overcharging

Seoul’s New QR Code Payment for Taxis to Prevent Overcharging

SEOUL, Oct. 24 (Korea Bizwire) — For the first time in South Korea, the Seoul Metropolitan Government plans to adopt a system in which dynamic QR codes are used to easily pay taxi fares. The city’s plan for a QR code payment standard for taxis will be compatible with various payment methods. Starting in January [...]

INVEX Partners with Ondot to Launch the First Instant Digital Card in México

INVEX Partners with Ondot to Launch the First Instant Digital Card in México

Santa Clara, California and Mexico City, Mexico, Oct. 22 (Korea Bizwire) — INVEX (BMV: INVEX A) Credit Card business, the only monoliner specializing in payments and cobranded cards, with focus on 100% digital customer experience in Mexico, has partnered with Ondot, the global leader in mobile payments services, to deliver full card life-cycle management associated [...]

Cashless Economy Encroaches on Everyday Life

Cashless Economy Encroaches on Everyday Life

SEOUL, Oct. 12 (Korea Bizwire) — On an ordinary weekday in downtown Seoul a middle-aged woman walks into a Starbucks to order a cup of coffee. When she takes some paper bills out of her purse to pay the cashier, he politely refuses them and points to a notice at the entrance. “This store doesn’t [...]

Credit Card Companies Pay Close Attention to the Launch of “Seoul Pay”

Credit Card Companies Pay Close Attention to the Launch of “Seoul Pay”

SEOUL, Jul. 26 (Korea Bizwire) — Credit card companies are on high alert after the launch of a new payment system by the city of Seoul that allows small business owners and their customers to make monetary transactions without any fees. Yesterday, the Seoul Metropolitan Government announced the launch of “Seoul Pay,” a zero transaction [...]

Paysafe Launches Paysafecash – the Ground-breaking New Payment Solution for the ‘Cash Consumer’

Paysafe Launches Paysafecash – the Ground-breaking New Payment Solution for the ‘Cash Consumer’

LONDON, Jun. 4 (Korea Bizwire) — Leading global payments provider, Paysafe, today announces the global launch of its latest alternative payment solution – ‘Paysafecash’. The pioneering and ultra-safe online cash payment option has been designed to cater for the sizeable number of online shoppers around the world who still prefer to pay by cash. Recent [...]

Blockchain Can Prevent Delays in Payment for Products Delivered by SMEs: Report

Blockchain Can Prevent Delays in Payment for Products Delivered by SMEs: Report

SEOUL, Mar. 12 (Korea Bizwire) — Smart contracts based on blockchain technology can effectively prevent delays in payments for delivered goods and make it impossible to unilaterally alter original contracts, a local think tank said Sunday. The report by Korea Small Business Institute (KOSBI) said blockchains can open new horizons for how small and medium [...]

Acapture Introduces SlicePay, a PSD2-compliant Payment Product That Supports Merchants to Handle Complex Split Settlements

Acapture Introduces SlicePay, a PSD2-compliant Payment Product That Supports Merchants to Handle Complex Split Settlements

AMSTERDAM, The Netherlands, Sept. 14 (Korea Bizwire) — Acapture, a global, data-driven omnichannel PSP, has launched SlicePay, an easy-to-integrate product designed to reduce the burden of payouts to multiple parties in various countries and currencies. By adding SlicePay to its portfolio, Acapture now offers a BaFin validated, PSD2-compliant solution to its international clientele. It supports [...]

Korean FSC Introduces Hand-Scanning Bio-Pay, First 24/7 Internet-Only Banks

Korean FSC Introduces Hand-Scanning Bio-Pay, First 24/7 Internet-Only Banks

SEOUL, Jan. 5 (Korea Bizwire) – The Financial Supervisory Commission announced Thursday that it will introduce a new biometric payment method that will use the veins on the palm of the hand for identification.  According to officials, consumers will be able to make payments by simply having their palm scanned at offline outlets without the [...]