Toss Place is joining hands 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 subsidiary 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 Seocho-gu, Seoul. Choi Jae-ho (최재호), CEO of Toss Place, and Lee Seung-gi (이승기), head of the Korea Credit Card Inquiry Terminal Association, and other key officials from both sides attended.

Under the agreement, the two sides agreed to cooperate on improving the operating environment of small-merchant stores and supporting digital transition. They plan to share cases of AI-based technology adoption and functions and services to improve store operating efficiency. They also plan to review on-site, operations-focused support measures.

They also agreed to continue identifying cooperative tasks so small merchants and the value-added network industry can respond stably to the changing digital environment. They also agreed to join efforts to lay the foundation for sustainable growth of the payments industry.

Lee said, "Small merchants' operating environment is rapidly shifting to a digital-centered one." He added, "We will continue cooperation so this agreement can lead to practical improvements in the on-site environment."

Choi said, "We will continue to think about directions in which small merchants and the value-added network industry can grow together."