Search results for prepaid electronic payment instrument
Finance
Toss to directly notify customers with dormant prepaid balances of 1,000 won or more
Viva Republica, operator of Toss, will regularly notify customers of remaining balances in its prepaid top-up funds, Toss Money, that have not been used for at least 2 years. It will send at least 1 notice a year to customers with balances of 1,000 won or more. Notifications will be sent only via Toss app push alerts, not by text message or email. Users can instantly transfer amounts to accounts in their own names.
Crypto
Sh Suhyup Bank joins InfiniteBlock prepaid funds verification solution pilot
Sh Suhyup Bank will take part in a pilot of InfiniteBlock’s blockchain-based solution for managing prepaid electronic payment instruments. The bank said on Oct. 7 it will join a financial regulatory sandbox consignment test of InfiniteBlock’s issuance and records management solution and run the pilot for 1 year. The system records and manages issuance and transaction data on a blockchain, enabling real-time verification of outstanding balances and deposits.
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.
