View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
August 12, 2019

HUPAYX brings crypto payments to more than 400,000 South Korea stores

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.

The 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.



NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy