Barogo announced on the 14th that it has introduced a prepaid payment system in line with the revision of the Electronic Financial Transactions Act and signed a strategic business agreement (MOU) with Welcome Payments .
According to this agreement, existing Baro Money will be protected by Welcome Money, the prepaid points of Welcome Payments. The revised system aims to maximize the transparency and efficiency of fund management, and prepaid recharges will be managed through Welcome Payments. This will enable stable fund protection in accordance with legal regulations, and provide a foundation for flexible response to external environmental changes. In addition, Barogo has completed thorough preparations for recharge protection in cooperation with its subsidiaries, Dilver and Moaline. Through this, it plans to secure advanced payment systems, transparency in fund management, strengthen competitiveness in the delivery agency market, and provide trust to platform users based on stable operation. Currently, Barogo has been accepting membership registrations for stores that have applied the new payment system since February, and is scheduled to officially open on April 8.
Through this agreement, we are working with Welcome Payments to provide stable prepaid payment services to not only existing customers but also new businesses. Welcome Payments will be able to systematically and safely manage prepaid recharges through AML (Anti-Money Laundering) and FDS (Fraud Detection System) systems, and provide transparent fund movement and settlement in real time based on the transaction ledger.
A Barogo official said, “Barogo has proven its stable profit structure by recording its first monthly surplus in September of last year and achieving a quarterly surplus in the fourth quarter. Based on this, we are further strengthening our financial soundness and plan to establish a safer charging management system through this response to the Electronic Financial Transactions Act.” He added, “In order to ensure the sustainability of the delivery agency platform, it is essential to comply with legal regulations and secure a stable operating foundation through preemptive system reform. Barogo plans to actively respond to these changes in the future and continue sustainable growth.”
A Welcome Payments official said, “We feel a heavy sense of responsibility for protecting point recharges through our prepaid payment platform,” and added, “We will do our best to focus more on establishing stable service operations and provide customers with a convenient and trustworthy prepaid payment platform.”
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