Partners with fintech startup CrossHub on joint service development
Woori Bank signed an MOU with fintech startup CrossHub on Wednesday to jointly develop digital financial services and improve payment convenience for foreign visitors to Korea, the bank announced Thursday.
The agreement aims to reduce the difficulties foreign tourists face when using domestic financial and payment services and to strengthen digital finance offerings for foreign customers. The two companies plan to jointly develop a digital wallet exclusively for foreign users, targeting a launch in the second half of this year. Once a foreign customer registers their passport information and payment method a single time, they can make simple payments across major domestic lifestyle platforms — covering transportation, delivery and shopping — without any additional authentication. The partners also plan to introduce a prepaid card for foreign visitors that can be loaded with their home currency and used in Korea.
ehkim@heraldcorp.com
