Viva Republica, operator of Toss, will provide prepaid cards to foreign students in South Korea who have difficulties using financial services before opening a domestic bank account.
Toss said on Aug. 27 it will provide prepaid cards to newly enrolled foreign students through international offices at 15 universities nationwide.
The Toss prepaid card can be topped up and used without a separate domestic bank account. Foreign students can receive the card through their university international office when they first arrive, and then top it up with cash at CU convenience stores.
Topped-up funds can be used at offline merchants, and online payments are also available if the card is registered as a payment method on Toss Pay.
Toss said it arranged the support in consideration of the constraints foreign students face in using financial services for a certain period after arriving, until they receive an alien registration card and open a domestic bank account.
A Toss official said, "We will continue to introduce services that consider the living environment of foreign users and increase financial accessibility."
Ji-young Lee
ljy@d-today.co.kr