KB Kookmin Bank is joining hands with Naver Pay (Npay), Korea Information & Communications and EZShop to expand support for small merchants' digital transformation and financial services.

KB Kookmin Bank said on Oct. 6 it signed a business agreement on Oct. 2 with Naver Pay, Korea Information & Communications and EZShop at its new building in Yeouido, Seoul, to support the sustainable growth of small merchants.

The agreement focuses on linking payments, business management and financial services based on the offline integrated terminal, "Npay Connect". Npay Connect supports offline stores by enabling services such as Naver reviews, coupons and orders alongside payments.

KB Kookmin Bank plans to expand financial services and business and fund management services for small merchants. The four companies will link Npay Connect and payment infrastructure with financial services and will also identify tailored financial services using payment and business data.

They will also pursue ways to reduce small merchants' workload by linking business management tasks needed for store operations, such as sales and settlements, with financial services. They also plan to cooperate on joint marketing using each company's customer touchpoints and sales networks.

A KB Kookmin Bank official said, "We will expand cooperation with partner companies across various fields to support the stable growth of small merchants."