What is PAYCO? PAYCO Review, Features

PAYCO is a convenient payment platform launched by NHN on August 1, 2015. In 2017, in order to accelerate the development of PAYCO, NHN strategically split it into NHN Payco Co., Ltd. and attracted 125 billion won in investment in September of the same year. am123

About PAYCO

• PAYCO is easy to use. Users can register as members using their mobile phone number or email. After binding their credit/debit cards, users can make online and offline payments at PAYCO-related stores.
• Currently, enterprises can access PAYCO through a third-party gateway. As a licensed institution, PayerMax has launched a local online payment solution in South Korea, which can handle online transactions in almost all mainstream channels, including e-wallet payments, card payments, and bank transfers, helping overseas enterprises to connect to local payments in South Korea and quickly collect payments.

PAYCO Features

1. Convenient payment

PAYCO can meet users' daily payment needs in various scenarios, supports offline and online payment, and QR code payment. After successful payment, users can also earn points, and PAYCO points can be used for consumption.

2. Fund transfer

Users can transfer money to the recipient's account for free (limited to 20 transactions), or transfer money through the other party's mobile phone number without knowing the other party's account number. PAYCO also supports overseas remittances (as fast as ten minutes) and regular transfer services.

3. Lifestyle services

PAYCO also serves as a platform for life services such as e-shopping, transportation recharge, express delivery orders, electronic certificates, campus services, horoscopes, magazine reading, etc. It is feature-rich and practical.

4. Financial services

You can use PAYCO as a financial management platform to check your earnings at any time, while also supporting user credit management and currency exchange services.

5. Payment features

Refunds are supported, but chargebacks are not supported.

Advantages

1. Wide business coverage and rich functions

PAYCO has gradually become a life service platform, expanding its e-wallet service scope to payment, promotions, lifestyle, public and financial fields. PAYCO provides most types of online payments by connecting the payment gateway with the credit card payment window. In addition, through strategic partnerships with VAN providers, POS providers and Samsung Pay, PAYCO provides offline payment services for 2.7 million stores, covering all aspects of Korean users' payment scenarios.

2. Strong background and convenient payment

PAYCO is a payment platform under the Korean Internet giant NHN, which is the largest portal group in Korea and has a strong background. In terms of business, PAYCO does not support chargebacks and real-time payment, which is conducive to corporate payment collection.