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Finance

KB Kookmin Bank enables QR payments in China without local app, offers 100 percent exchange rate preference

KB Kookmin Bank has launched a service on its KB Star Banking app that lets users make QR payments at merchants in China without installing a local payment app or registering additional personal information. The bank said it introduced an overseas payment service linked to NUCC, marking the first direct connection by a South Korean financial company to China’s national payment network. It also applies a 100 percent exchange rate preference and is running a promotional event through Dec. 21.

Finance

Coocon links KakaoPay with Seoul Pay, enabling QR payments at 270,000 merchants

Coocon has linked KakaoPay with Seoul Pay to support QR payments using KakaoPay Money at Seoul Pay merchants, expanding the scope of its integration with the Seoul Pay payment network. Coocon said on Sept. 15 it completed the QR payment linkage between KakaoPay and Seoul Pay and started the service. KakaoPay users can now use QR payments at about 270,000 Seoul Pay merchants, while merchants can add KakaoPay using existing QR infrastructure without building separate systems.

Finance

Coocon Q2 operating profit up 6.3 percent to 4.96 billion won

Coocon posted year-on-year growth in both revenue and operating profit in the second quarter and plans to expand new businesses in the second half. The company reported second-quarter revenue of 17.96 billion won and operating profit of 4.96 billion won. It launched an MCP-based data API and linked global mobile payment services, and completed a stablecoin proof of concept. Coocon also plans to establish a local unit in Singapore this year.