Travel Wallet, a foreign currency payment fintech company, announced on the 2nd that it has acquired a patent for ‘Dutch Pay-related split payment’ technology in overseas markets such as Japan, Taiwan, and Eurasia. This patent acquisition marks a significant turning point for Travel Wallet as it accelerates its expansion into the global market.
Travel Wallet's split payment patent technology is applied to its 'N-Bread Payment' function. This technology is a system that automatically splits the payment amount upon payment approval and processes it so that each user individually pays, simplifying the complex payment process that occurs during travel and gatherings and helping with real-time settlement. Previously, one person would pay in advance and the rest would settle, but Travel Wallet's technology automates this, greatly improving payment convenience and financial reliability.
Travel Wallet is currently in the process of applying for additional patents in over 20 countries, including the US and Mexico, following Korea, Japan, Taiwan, and Eurasia, and plans to continue to establish leadership in payment technology in the global market. With the ability to provide customized financial services tailored to the financial environments of various countries, it seems likely that it will be able to provide services to a wider market worldwide.
Kim Hyung-woo, CEO of Travel Wallet, said, “This acquisition of the split payment patent will serve as an important foundation for providing competitive financial services in global markets including Japan and Taiwan,” and added, “We will continue to strive to provide customers with a more convenient and safe financial environment through technological innovation.”
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