SEOUL, South Korea, March 27, 2023 /PRNewswire/ — E9Pay, a leading Korean cross-border fintech company, has announced a strategic partnership agreement with Shinhan Bank, one of the largest banks in South Korea. The partnership aims to build overseas transfer/payment cooperation for financial inclusion, especially foreign workers residing in Korea and SMEs using the E9Pay Commercial Payment Platform.
Under the partnership, E9Pay and Shinhan Bank will work together to develop a payment system that will allow foreigners residing in Korea and merchants trading through global online marketplaces. This will offer a convenient and efficient payment system for foreign workers and businesses, promote cross-border trade and facilitate transactions between Korea and other countries.
The partnership will also promote joint projects to strengthen fintech-banking synergy, such as providing API-based real-time currency trading service between the two companies. This will offer customers a seamless and efficient way to exchange foreign currency in real time.
“We are pleased to enter into this strategic partnership with Shinhan Bank,” said MR. Jeon Hyuk GooCEO of E9pay Co., Ltd. “This partnership will help us expand our reach and offer our customers a more comprehensive range of financial services. We look forward to working closely with Shinhan Bank to promote convergence and new business opportunities.”
A Shinhan Bank official said, “Recently, with the expansion of BaaS (Banking as a Service), which experiences banking services through external platforms and changes in customer touch points, partnerships with fintech companies are actively developing.” Through this, we will offer beneficial services to financial consumers and secure a proactive position in the global cross-border money transfer/payment market.”
About E9 Pay
E9pay is the first company to acquire Overseas Remittance Business No. 1 license from the Ministry of Economy and Finance (MOEF) on South Koreawhich offers foreign money transfers/receipt services to/from 126 countries as of March 2023.
E9pay boasts global partnerships with major players in the market. As a trusted leader in overseas money transfer in Korea, which is growing rapidly, E9pay received Innovative Financial Service from MOEF, which was provided financial services differentiated from existing financial techniques by using new IT technologies, E9pay provides secure real-time transfers so that recipients can receive money safely through innovative Korean Open-Banking service.
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About Shinhan Bank
Shinhan Bank is a leading commercial bank in South Korea with KRW 471.5 trillion in assets. The company offers a full range of banking services to its 20 million customers – individual consumers, SMEs and large corporations – with 1,032 branches including 156 global branches in twenty countries; the company also serves its 11.9 million mobile users with its award-winning app ‘SOL.’ The company’s financial group ‘Shinhan Financial Group’ is a diversified holding company with 17 companies including Shinhan Card, Shinhan Investment and Shinhan Life. The financial group’s shares are listed on the Korea Exchange.
For more information, please visit: https://bank.shinhan.com/en/
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