SEOUL, South Korea , March 27, 2023 /PRNewswire/ — E9Pai, Korea’s major cross-border fintech business, has announced a strategic partnership agreement with Shinhan Bank, 1 of the biggest banks in South Korea. The partnership aims to create overseas remittance/payment cooperation for economic inclusion, particularly foreign workers residing in Korea and SMEs applying the E9Pai industrial payment platform.

As aspect of the partnership, E9Pai and Shinhan Bank will collaborate to create a payment method that will allow foreigners residing in Korea and merchants trading via worldwide on the internet marketplaces. This will present a practical and effective payment method for foreign workers and firms, advertising cross-border trade and facilitating transactions amongst Korea and other nations.

The partnership will also market joint projects to strengthen fintech-bank synergies, such as the provision of an API-primarily based genuine-time currency trading service amongst the two firms. This will present consumers a seamless and effective way to exchange foreign currencies in genuine time.

“We are delighted to enter into this strategic partnership with Shinhan Bank,” he mentioned Mr. Jeon Hyuk Goo, CEO of E9pai Co., Ltd. “This partnership will support us expand our attain and present our consumers a extra extensive variety of economic solutions.” We appear forward to functioning closely with Shinhan Bank to market convergence and new enterprise possibilities.”

A Shinhan Bank official mentioned“Not too long ago, with the expansion of BaaS (Banking as a Service), which experiences banking solutions via external platforms and modifications in client get in touch with points, partnerships with fintech firms are actively advancing.” Via this, we will offer beneficial solutions to economic customers and safe an benefit in the worldwide cross-border remittance/payment market place.”

About E9 Pai

E9pai is the very first business to get license no. 1 for remittances abroad, offering remittance/receipt solutions abroad to/from 126 nations as of March 2023.

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E9pai boasts worldwide partnerships with significant market place players. As a trusted leader in overseas remittances in Korea, which is increasing swiftly, E9pai received an revolutionary economic service from MOEF, which supplied economic solutions that differ from current economic approaches by applying new IT technologies, E9pai delivers safe genuine-time transfers so that customers can get dollars securely via Korea’s revolutionary open banking service.

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About Shinhan Bank

Shinhan Bank is the major industrial bank in South Korea with assets of KRW 471.five trillion. The business delivers a complete variety of banking solutions to its 20 million consumers – person customers, SMEs and massive corporations – with 1,032 branches like 156 worldwide branches in twenty nations the business also serves its 11.9 million mobile customers with its award-winning “SOL” app. The company’s economic group ‘Shinhan Monetary Group’ is a diversified holding business with 17 firms like Shinhan Card, Shinhan Investment and Shinhan Life. The shares of the economic group are listed on the Korea Stock Exchange.

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