Toss’ user base grows consistently, now reaching over 60% of the Korean population across all demographics. The company currently has over 30 million users registered on the Toss app, about 25 million of whom are monthly active.
Toss is ramping up its push into the offline payments market, aiming to deploy its pay-by-face service in over 1 million stores by next year, the fintech company said. The service, called „Face Pay” by Toss, enables users to make payments at stores simply by looking at a terminal, after registering their facial information and payment method in advance through the Toss app.
Launched as a pilot in March, the service expanded to 20,000 affiliated stores in Seoul within just two months. As of August, the service had over 400,000 registered users, with a monthly reuse rate of around 60 percent.
The company is aiming to expand nationwide, targeting 300,000 affiliated stores by the end of this year and 1 million by 2026. Its partnerships span convenience stores, cafes, restaurants, movie theaters, fashion, beauty and electronics retailers.
Face Pay is the only facial recognition payment technology to receive prior validity review and approval from Korea’s Personal Information Protection Commission.
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Toss is South Korea’s leading unified fintech platform, which includes the Toss SuperApp and a nation-wide payments network, dedicated to helping individuals manage their financial lives seamlessly in one place, and businesses connect with a rich and engaged user base.
Founded in 2015 with the vision of transforming finance into a more accessible, personalized, and secure experience, Toss now serves nearly 30 million users with a comprehensive suite of services, including money transfer, payments, banking, stock trading, credit score management and tax services, all within a single, seamless app.
Expanding beyond finance, Toss also offers services in retail, mobility, and telecommunications, solidifying its role as a true SuperApp that supports customers in every aspect of their daily lives.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
