Devdi (CEO Kim Ki-tae), which operates the monthly rent card payment service 'ZipupPay', announced that it has signed a business agreement (MOU) with Tomorrow (CEO Yong-woo Cho), a company specializing in electronic KYC (eKYC) for foreigners.
This agreement aims to expand the monthly rent payment market for foreign residents by combining the two companies' technological and sales capabilities. By linking Tomorrow's eKYC technology with Zipup Pay's payment infrastructure, the two companies plan to create an environment where foreign residents can more easily and securely pay their monthly rent in Korea.
The main contents of the agreement include ▲integration of the foreigner payment authentication process ▲enhancement of payment services exclusively for foreigners ▲cooperation in expanding the foreigner residential payment market ▲promotion of joint marketing and promotion ▲discovery of other areas of cooperation.
Through this agreement, Devdi and Tomorrow will develop a system that will allow foreign users to process authentication, payment, and settlement all in one place, without the need for separate account opening or currency exchange procedures. They will integrate Tomorrow's eKYC API with the ZipupPay payment infrastructure to support ID and visa verification for major countries like the US, Japan, Canada, and the UK. They will also jointly pursue improved authentication accuracy and enhanced user experience.
The two companies will also target foreign residents, targeting residential payment demand. Starting with the US and Japan, they plan to gradually expand the service to other countries and strengthen market awareness and service expansion through joint campaigns and promotions.
Kim Ki-tae, CEO of DevD, said, “Through this collaboration, we have created an environment where foreign residents who previously had difficulty accessing domestic financial services can pay their monthly rent more conveniently. We will lower the barriers to entry into the global housing payment market and accelerate the digital transformation of the monthly rent market.”
Yong-Woo Cho, CEO of Tomorrow, said, “The combination of DevD’s payment infrastructure and Tomorrow’s authentication technology is expected to create great synergy in the foreign resident payment market,” and “We will create an environment where foreign residents can make payments safely and efficiently in Korea.”
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