Credit card payments will soon be available for transactions between individuals on used goods platforms. Toss Bank and Gwangju Bank will also be allowed to jointly handle corporate loans.
The Financial Services Commission announced on October 7 that it has designated 24 new innovative financial services, including Naver Financial's credit card safety payment service for peer-to-peer used goods transactions. This brings the total number of designated innovative financial services to 1,164.
Naver Financial will provide credit card payment and escrow services for transactions on its used goods platform, N-plemarket. When a buyer pays with a credit card, the payment will be released to the seller after the buyer confirms receipt. However, to prevent fraudulent transactions, any transactions suspected of being for purposes other than used goods will be blocked, and the credit card payment limit will be capped at 1.5 million won per transaction.
Toss Bank and Gwangju Bank will introduce a joint loan service where corporate clients can apply for loans through the Toss Bank app. Each bank will assess the application and execute the loan based on a jointly determined limit and interest rate, with the loan amount shared equally between the two banks.
Additionally, 21 services utilizing generative AI, submitted by 14 companies including Kakao Pay, Toss Bank, Korea Investment & Securities, Hanwha Life, and Hyundai Card, have also been designated as innovative financial services. These services will allow the integration of external generative AI with internal information processing systems to support employee tasks and customer-facing chatbots.
Furthermore, Mirae Asset Securities' Wrap-type CMA mobile subscription service has been designated, and the designation period for IBK Investment & Securities' fractional trading service for overseas stocks has been extended by two years. SK Securities' request for regulatory improvements has also been accepted, and the Financial Services Commission plans to revise regulations to allow the service to be provided without special exceptions in the future.
* This article has been translated by AI.
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