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Finance

KakaoBank expands services for foreign residents, from account opening to overseas remittances

KakaoBank is expanding services for foreign residents in South Korea, offering mobile account opening without branch visits, dedicated verification and multilingual support. It introduced a foreigner account, check cards, overseas remittances and multilingual counselling. Customers can submit documents in-app and obtain balance and transaction statements. Fees for transfers and ATM use are waived under the same conditions as domestic customers. KakaoBank plans to add deposits, open banking and loan comparison next year.

Finance

Toss \'Quick Account Transfer\' tops 100 billion won in monthly transactions, users reach 12 million

Viva Republica, operator of Toss, said its simple account transfer service \"Quick Account Transfer\" has exceeded 100 billion won in monthly transaction value as of the end of August. Cumulative users also topped 12 million. The service allows payments directly from a bank account via open banking using a six-digit password, without installing a separate certificate. Toss said it streamlined sign-up and payment steps and improved payment success rates.

AI & Enterprise

Bybit EU payments unit secures Austria e-money licence

Bybit\'s European payments subsidiary has secured an electronic money institution licence in Austria, giving it a regulatory basis to add payments and e-money services to its European platform. Bybit said Austria\'s Financial Market Authority granted the licence to Bybit Payments GmbH. The company said this provides a legal basis to offer person-to-person transfers, merchant payment solutions, open banking functions and card products via Bybit.eu for European Economic Area users excluding Malta.