PayGate diversifies global strategies for reimbursement programs

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PayGate diversifies global strategies for reimbursement programs


PayGate, Fintech platform provider, held "Seyfert Forum Vision 2019" at Seoul Jamsil Lotte World Tower 31F Auditorium on Dec. 4th.

We are developing various programs to help our members from partners or clients to use Seyfert more systematically. We will strengthen our core program and hold various forums, technical training, and meeting regularly to build fine communication and social responsibilities," said Ms. Soyeong Park, CEO of PayGate.

"We think that Seyfert will play an important role in Blockchain development and also give a great contribution to the service," said Mr. Dongsan Lee, CTO of PayGate.

He further mentioned that PayGate provides a system to protect the key of private information shared among corporations and customers, and the system can restore the lost key as well.

PayGate announced that they will regulate an insurance policy to reimburse up to 10 billion KRW if the lost key failed to be recovered.

"To catch up with the global competition, we will not only focus on domestic companies but also enter into partnership agreements with hosting companies and solution providers around the world in 2019; especially, the partnerships with some companies in U.S.A. and Europe have already been proceeded in this year and will be moved forward at the beginning of 2019," said Mr. Ho Kim, the manager of PG (Electronic Payment Gateway Service) team from PayGate.

“The system provides the service of electronic wallet, not only for issuing virtual account, but also with the function of recording specific process of funds flow, which helps us better in dealing with various kinds of problem in this year. Still, we will keep ensuring safe transactions for multiple funds flow in this industry with our best,” said P2P team from PayGate.



Mr. Jaewon Jo, the director of global business team from PayGate, gave three examples of Seyfert application in the forum.

In the past, there is several service problem such as service not working properly for sending payment or receiving money. Now after applying Seyfert into O2O platform, transaction details and specific amounts will be proceeded under approval and then transferred into virtual accounts, which increases the satisfaction for both sides.

Colover service of 1 KRW authentication is an obvious example for this case. Since Anti-Money Laundering is getting much more attention recently, 1 KRW authentication is applied into the transaction process as a regulation.

We-chat Pay and Mini Programs, extensively used by many people in China, can exchange the payment into KRW and then transfer it to the supplier, which is a great evidence that the development and demand of cross border trading will gradually grow fast in the future.

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