Global fintech company Hecto Financial said on Tuesday it is supplying Paju with an integrated resource-circulation management system and accelerating the expansion of its business into public services.

The service provided by Hecto Financial is an online integrated system covering the full process from bulky waste reporting to payment and collection management. Users can complete the procedure by verifying a disposal photo after filing an online report, helping improve convenience for residents and streamline administrative work.

Until now, more than 90 percent of bulky waste disposal has relied on attaching a sticker to the discarded item, creating inconvenience from visiting sticker sales outlets and adding a burden of complaints due to sticker loss or theft. To address these problems, Hecto Financial built the system so that all steps are completed by verifying only a disposal photo after an online report. This blocks the risk of loss and theft inherent in the sticker method and reduces the likelihood of complaints.

To maximize user convenience, the process from reporting to payment is handled in one stop through mobile phone identity verification, without installing a separate app or signing up for membership. It also integrated all payment methods available domestically, including credit cards, virtual accounts and simple cash payments, improving payment convenience.

National Data Portal statistics show that waste fees collected by local governments nationwide totaled about 1.32 trillion won in 2023. Of that, more than 90 percent of bulky waste is operated through an offline, sticker-based method.

It also provides a map function that allows users to intuitively check the disposal location, enabling collection companies to manage routes efficiently. Paju will be able to check and respond to collection status in real time, and overall work efficiency is expected to improve significantly.

The system is built on a cloud basis, allowing stable operations without separate server investment. The company also plans to pursue AI functions in stages that recognize the type and size of waste from photos and automatically calculate processing costs.

Hecto Financial plans to fully scale up business expansion into the public payments market by digitizing the entire process, including payment and settlement. It plans to expand the service to various local governments and pursue nationwide rollout by building integrated digital infrastructure connecting local governments, collection companies and residents.

A Hecto Financial official said the company has built systems related to public collections such as taxes and penalties over the past 17 years and has provided payment services based on them, leading the digital shift of cash payments in public infrastructure. The official said the company will use that foundation to spread the model nationwide and advance it into AI-based public collection services, contributing to more efficient collection of national and local government revenues.