[Featured Stock] Genitics Rises on Samsung Pay-Naver Pay Alliance
[Asia Economy Reporter Lee Seon-ae] On the 21st, Jinytics' stock price is on the rise. This is interpreted as buying momentum flowing in following the news of a business agreement to enable the use of Naver Pay at Samsung Pay's nationwide offline merchants.
As of 9:35 AM, Jinytics is trading at 1,585 KRW, up 2.59% compared to the previous trading day. It surged to 1,660 KRW in the early session.
On this day, Naver Financial announced that it had signed a business agreement with Samsung Electronics to promote digital life activation. Through this agreement, Samsung Pay's MST (Magnetic Secure Transmission) payment method will be added to Naver Pay's on-site payment service. Samsung Pay payments will also become available at Naver Pay's online order-type merchants.
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The reason investment sentiment is gathering around Jinytics is that the company mass-produces semiconductors for NFC (Near Field Communication) payment methods used in Samsung Pay and others. Jinytics is the first domestic company to develop semiconductors using MST for NFC methods. Since Samsung Electronics adopted the MST method for Samsung Pay, Jinytics' MST IC products have been actively used in Samsung Electronics smartphones since 2016.
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