Paygate responds to preemptive enforcement of P2P Financial Law.

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Paygate responds to preemptive enforcement of P2P Financial Law.
In accordance with the enforcement of the Online Investment-linked Financial Service Act, a briefing session, such as the FSS registration procedure, is held.


In accordance with the enforcement of the Online Investment-linked Financial Service Act, a briefing session, such as the FSS registration procedure, is held.
Provide accurate information to companies entering P2P financing and support member licensing applications.

Paygate Co., Ltd., a fintech company, will hold a briefing session on the Online Investment-linked Financial Service Act, which will take effect on the upcoming August 27, and directly support P2P member companies' preparations.


▲ On the upcoming 18th afternoon, the Seyfert Seminar will be held in accordance with the enforcement of the Seyfert P2P (Online Investment-Linked Financial Industry) Act. (Photo credit = Paygate Co., Ltd.)


In the meantime, P2P Finance has been rapidly developed as an online loan information brokerage business within the guidelines of the Financial Services Commission. However, there were also voices of concern about the extent of the damage that could not be confirmed, such as the case where investors suffered due to the rapid change in the market, or overdue or default management.


To this end, the government decided to grant P2P financial companies the power and responsibility by giving the legal status of implementing the world's first Online Investment-linked Financial Service Act to actively respond to market changes and strengthen the net function of online loans.


Currently, the authorities are preparing the enforcement ordinances, supervisory regulations, and enforcement regulations. Paygate will hold a briefing session on the 31st floor of Jamsil Lotte Tower on the upcoming 18th at 1pm to provide accurate information such as the FSS registration process and statutory associations to companies engaged in P2P finance, as well as those interested in entering P2P Financial markets in time for enforcement of the law, and also to support the license application for member companies. Application for participation in the seminar can be made at ‘onoffmix’.


A Paygate official said that the event will be attended by officials from the Online Investment-linked Financial Association's establishment promotion team to guide them on the right information on the preparation for registration and the schedule for future progress, and to answer questions through on-site questions and answers.


Park So-yeong, CEO of Paygate, said, "We will continue to develop to enhance customer convenience and provide services optimized for the regulation of Online Investment-linked Financial Service Act through the organization of various major issues and system updates that are raised at the briefing session."

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