Naver Pay (Npay, CEO Park Sang-jin) announced on the 11th that it has signed a business agreement with cloud-based retail tech company Retail & Insight (CEO Sung Jun-kyung) for digital innovation in the domestic retail distribution market.
Under this agreement, the offline integrated terminal Npay Connect will be introduced as the standard payment terminal at approximately 4,000 small and medium-sized supermarkets nationwide that have signed contracts with Retail & Insight. Retail & Insight provides a cloud-based, integrated system for local supermarket operations, including POS, ERP, ordering and payment apps, smart leaflets, and kiosks, through its platform, Tomato Solutions.
With the introduction of Npay Connect, local supermarkets can support a variety of payment methods, including cash, card, mobile payment, NFC, and Npay facial recognition payment (Face Sign). Customers can also write Naver reviews and apply discount coupons immediately after payment. Terminal installation will be rolled out sequentially starting in March, and on-site payment promotions will also be implemented.
The two companies also plan to expand their data-driven strategic collaboration. Using Tomato Solution's POS and ERP data, as well as Npay payment data, they will explore financial strategies to support the growth of local supermarkets and develop benefits to enhance the customer experience.
Npay Pay Service Chief Lee Hyang-cheol said he expects this agreement to support innovation in the retail payment ecosystem and strengthen the digital competitiveness of local supermarkets.
In the domestic retail tech industry, the adoption of cloud-based payments and integrated POS systems is on the rise, and the digital transformation of small and medium-sized supermarkets is gaining momentum.
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