Search results for Korea Payment Networks
Finance
Race to pre-empt won stablecoin as third financial hub nears
South Korea\'s financial authorities raised their target for household loan growth this year and NH Nonghyup Bank resumed variable-rate mortgage lending, drawing attention to whether mortgage hurdles will fall across the sector. COFIX rose for a fourth month, increasing borrowers\' interest burdens. Financial support for mid-to-low credit borrowers and small businesses is spreading, while the government and regulators advance plans tied to regional finance hubs and debate over a won stablecoin shifts toward payment, distribution and custody infrastructure.
Finance
Korea Payment Networks obtains prepaid licence, completes stablecoin payment PoC
Korea Payment Networks, a unit of Korea Credit Data, has completed registration to issue and manage prepaid electronic payment instruments, the company said on Aug. 18. It is discussing prepaid service integration with large franchises, retailers and public institutions. The company plans brand-specific prepaid and top-up point systems, as well as services linked to vouchers and local currencies. It has also completed a proof of concept enabling USDC payments through its payment gateway.
Finance
Woori Bank to provide \'safe settlement\' service for pharmaceutical distribution market
Woori Bank will provide a payment and settlement service tailored to the pharmaceutical distribution market. The bank said on June 18 it signed a business agreement with Saero MS, operator of the pharmaceutical platform Saeropharm, and electronic payment agency Korea Payment Networks. The partners will combine Korea Payment Networks\' payment infrastructure with Woori Bank\'s WooriSAFE settlement service to manage transaction funds safely during distribution.
