More Payment Methods

TossPay

E-wallet

Toss is one of South Korea's leading nancial services platforms. Toss Pay is a wallet that allows consumers to pay for e-commerce goods and services through devices by linking their bank account or credit card. Toss Pay has a potential audience of 22 million existing Toss users, of whom 9.5m have registered to use Toss Pay in the two years since it launched. Adoption rates for Toss are increasing rapidly in South Korea. Consumers pay by entering their phone number and D.O.B. or scanning a QR code with their Toss app and entering their PIN or biometric authentication. They have the option to pay with points or their linked card.

TossPay

Features

  • Coverage Area
    Customer
    South Korea
    Merchant
    Global
  • Channel
    Online
  • Currency
    Consumer Currency
    KRW
    Processing Currency
    KRW
    Settlement Currency
    USD
  • Transaction
    Minimum Limit
    KRW 100
    Maximum Limit
    KRW 2,000,000
    Payment Timeout
    30 minutes
  • Feature
    Scheduled Payment
    no
    One-click Payment
    no
    Refunds
    yes
    Partial Refunds
    yes
    Multiple Partial Refunds
    yes
    Payment Guarantee
    yes
    Refund Risk
    yes

Why ChooseTossPay？

  • Toss report that currently, Toss Pay is accepted by 12,000 merchants and the volume of transactions has increased by 106% year on year (2022).

    Toss report that currently, Toss Pay is accepted by 12,000 merchants and the volume of transactions has increased by 106% year on year (2022).

  • A 2021 Toss Pay survey found that 61% of consumers use it for discounts received with Toss Pay, Toss Prime rewards, and the ability to redeem Toss points when paying.

    A 2021 Toss Pay survey found that 61% of consumers use it for discounts received with Toss Pay, Toss Prime rewards, and the ability to redeem Toss points when paying.

  • Toss has partnered with nearly all South Korean banks, giving it a potential reach of 98% of banked customers (PPRO Almanac).

    Toss has partnered with nearly all South Korean banks, giving it a potential reach of 98% of banked customers (PPRO Almanac).

How It Works?

  • At checkout, the consumer selects BANCOMAT Pay and enters their mobile phone number.
    Merchant

    01

    At checkout, the consumer selects BANCOMAT Pay and enters their mobile phone number.

  • On their mobile device, the consumer receives a payment request notification.
    Customer Device

    02

    On their mobile device, the consumer receives a payment request notification.

  • The consumer opens the BANCOMAT Pay app to verify the transaction data.
    Customer Device

    03

    The consumer opens the BANCOMAT Pay app to verify the transaction data.

  • The consumer approves the transaction with their fingerprint, face ID or PIN code.
    Customer Device

    04

    The consumer approves the transaction with their fingerprint, face ID or PIN code.

  • The consumer receives a transaction confirmation on their mobile device.
    Customer Device

    05

    The consumer receives a transaction confirmation on their mobile device.

  • A confirmation message appears on the merchant website.
    Merchant

    06

    A confirmation message appears on the merchant website.

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