Fintech company Hector Financial has been selected as the new online payment partner for the Sports Promotion Lottery (Sports Toto) business.
Hecto Financial participated in the open bidding for the 'Sports Promotion Voting Rights Project Online Sales Payment Service (PG) Agency Selection Project' hosted by the 'Seoul Olympic Memorial National Sports Promotion Foundation' (hereinafter referred to as the Foundation) and was selected as the preferred negotiating party by recording the highest evaluation score. Accordingly, Hecto Financial plans to proceed with the goal of signing an actual contract after discussing the details with the Foundation.
Once the contract is signed, Hecto Financial will provide payment services related to sports toto purchases through the Internet sales system to the newly established sports toto consignment operator under the corporation. The service period is three years from July 2025 to June 2028, and the total project budget is set at approximately KRW 16 billion.
This project was carried out amid the public offering of the Sports Toto issuance business led by the corporation. In order to respond quickly to unexpected problems, the corporation plans to select two PG companies and operate a dual payment channel.
The Sports Toto business aims to foster the nation's leisure sports and raise funds for the promotion of sports, and provides services for predicting game results in various sports such as soccer, basketball, baseball, volleyball, golf, and wrestling. The annual issuance amount is approximately 6 trillion won, and the amount of online purchases is estimated to be approximately 630 billion won.
An official from Hecto Financial said, “Hecto Financial has been providing payment services in various fields for over 20 years and has proven its stable business operation capabilities and security capabilities,” and added, “We hope to contribute to the development of Korean sports through top-level payment services.”
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