Toss Place, Toss's payment terminal and point-of-sale (POS) system subsidiary, will work with Bizplay to broaden acceptance of local love vouchers and jointly develop corporate expense management services.

Toss Place said on Monday it had signed a strategic agreement with Bizplay to boost local love voucher payments and cooperate in the corporate expense management business.

The agreement aims to combine Bizplay's operating experience in the local love voucher business and its corporate expense management capabilities with Toss Place's offline payment infrastructure.

The companies will first support Bizplay-operated local love vouchers for use on Toss Place's Toss Front payment terminals.

They plan to expand the payment linkage model applied to Seoul Pay to other regions such as Iksan and Jeju, to improve payment convenience for local love voucher merchants.

The companies will also cooperate in the business-to-business (B2B) sector. They plan to jointly develop an integrated service linking Bizplay's corporate expense management service with Toss Place's offline payment infrastructure, allowing corporate clients to handle spending execution, collection of supporting documents, settlement and management as a single process.

Once the service is detailed, the companies expect it will reduce work such as separately gathering supporting documents after payment or manually entering expense details.

The companies plan to broaden cooperation to include joint marketing, finding new customers, service linkages, and development of new payment and platform businesses.

Kim Jeong-yeol (김정열), vice president of Toss Place, said, "We will expand services for small business owners and corporate customers by combining Toss Place's payment infrastructure with Bizplay's public and corporate service capabilities."