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Finance

Toss Place, Korea Credit Card Inquiry Terminal Association team up to improve payment environment for small merchants

Toss Place will work with the Korea Credit Card Inquiry Terminal Association to improve the payment environment for small merchants and support their digital transition. Toss Place, a payments terminal and POS solutions unit of Viva Republica, said on May 12 it signed a cooperation MOU with the association. The signing ceremony was held on May 11 at Toss’ Sinnonhyeon office in Seoul.

Finance

Toss opens integrated service for high oil price relief fund

Viva Republica, the operator of Toss, launched an integrated service to support applications for the government’s “high oil price relief fund” ahead of a second round. Users can complete pre-application, formal application and merchant lookups in the Toss app. Applications run from May 18 to July 3. The fund targets about 70 percent of the population. Approved amounts are charged to a user’s card the next day, and results are sent by text message.

Finance

Stablecoin race for control spreads, KOSPI nears 7,000

Competition over global payment infrastructure centered on stablecoins is spreading across the financial industry. Hana Financial Group is moving to cooperate on blockchain-based remittances with Dunamu and POSCO International, while Visa is expanding its stablecoin pilot and adding five more blockchains. U.S. banks are calling for stronger in-house blockchain strategies, and Shinhan Card is expanding a Solana-linked proof-of-concept. Markets also remain strong, with the KOSPI holding above 6,600 and repeatedly hitting record highs.