South Korean crypto payment platform Human Plus has unveiled plans to make its platform HUPAYX available to 420,000 stores in the country.
The move is the result of the platform’s alliance with KIS Information Communications, part of financial services firm NICE Group.
All the stores supporting HUPAYX are located in the South Korean capital of Seoul and include duty-free stores and tourist shopping districts.
The project’s scope also includes the integration of the service through an app with the HUPAY Wallet.
The pilot is anticipated to begin in the third or final quarter of this year.
By this year-end, HUPAYX aims to team up with more than one million stores with subsequent integration anticipated in the first quarter of next year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe Human Plus Team said: “We believe that some of the key partnerships we did reflects not only on HUPAYX potential, but also in trust and technological advantage we possess over our competitors.”
In addition, Hupayx collaborated with LG U+, part of LG Group. The partnership is intended at distributing Hupayx’s POS systems through the LG U+ network.
“The LG U+ partnership will help the company leverage its sales partnership, merchant applications, and telecom infrastructure to expand its merchants base starting from domestic market,” HUPAYX noted.
HUPAY Wallet and merchant pos HPOS is currently being offered as a Beta version on Google Play store. An iOS version is slated to be made available this November.
The company also intends to introduce blockchain-based digital currency business backed by local governments.