PayGate

PayGate, contructs netting system for “620 trillion, foreign currency remittance market.” PayGate announced on 27th that they have constructed the netting system for small amount foreign currency transfer with major banks in Hong Kong and Jeonbuk Bank. In 2017, there was about 14 trillion (KRW) in domestic remittance market and total about 620 trillion (KRW) in global foreign currency remittance market, and with the system, PayGate is now planning to take a great place in the field of global market. PayGate Hong Kong, PayGate's subsidiary in Hong Kong, acquires MSO license from Hong Kong government in May for small amount foreign currency remittance, and PayGate also set up a Won-denominated account in Jeonbuk bank with the permission from Korean government. PayGate Hong Kong now plays as a network channel of foreign remittance between Hong Kong and Korea. Netting is a legal transfer method by offsetting the money for sending out and receiving. There are various methods be...

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GS Neotek completed a successful migration for PayGate AWS GS Neotek, a cloud expert, announced on 19th that they have done a successful migration for PayGate, a FinTech leading company. The migration was moving from the existing AWS infrastructure in Tokyo to Korea for PayGate's Fintech platform, "Seyfert," located in Seoul as a specialized center, to provide an optimal service. "After the migration, we are able to provide a more stable and faster service. We successfully perform the service through only three inspections in every two hours, and we are satisfied with the cost and effectiveness," said an official from PayGate. For most of the Fintech companies such as PayGate are critical to the process during infrastructure downtime (time when the system is unavailable) because of a 24-hour service request. GS Neotek designs the infrastructure for security and risk purpose base on client's business vision and strategy instead of simply tra...

PayGate Signed a Business Agreement with “Table With Life.” Now Technology of Big Data and O2O Platform Service Development PayGate, a FinTech corporation, announced on 1st that they have signed a memorandum of understanding (MOU) with Table With Life, Curriculation Pure Food Mall. Through the cooperation, PayGate will provide a safe payment and settlement platform for Table With Life and develop new technology of online and offline blockchain service for sharing fresh food with Table With Life's customers. The two companies will work together to share the information of big customer database. PayGate started its FinTech market since the release of FinTech platform, "Seyfert," in 2003. Seyfert is an open banking platform that supports collection, withdrawal, and remittance with existed electronic payment system. It provides various services for online financial transactions such as crowdfunding, P2P lending, and overseas remittance. It works with high security...

PayGate Blockchain Fintech Platform, "Seyfert," Launched in Vietnam Applied Seyfert to the related industries in Vietnam PayGate, with its blockchain Fintech platform, "Seyfert," expands the business in Vietnam now. PayGate presented on 31st in Vietnam Hanoi Pullman Hotel about Seyfert platform and Seyfert Use Case for Vietnam Fintech related corporations and representatives. Many P2P lending corporations and cross border (international direct payment) E-commerce merchants in Korea are using Seyfert platform and Seyfert Case Use. PayGate, with its headquarter in Korea, established the subsidiary, PayGate Vietnam, in Hanoi and has been focusing on the research of Blockchain since 2018. Mr. Dong San Lee, CTO of PayGate, said, "Seyfert is a Fintech platform that can be applied in various types of API to meet the needs for IT corporations." As a co-founder of PayGate and with the background in the security field, Mr. Lee has been focusing on r...