Nice Information & Communications and Payments Launch Merged Corporation

1 Trillion Won in Revenue, Operations at 740,000 Merchants Nationwide
Integrated VAN-PG 'One-Stop Payment and Settlement Lineup'

Nice Information & Communications announced on October 1 that it has launched a merged corporation with Nice Payments.

The company has combined its Value-Added Network (VAN) business and Payment Gateway (PG) business.

The company explained the merger as "a strategic decision to become a payment provider that offers online, offline, and global services under an integrated payment brand."

The two companies plan to focus on enhancing corporate value through the merger.

By integrating VAN and PG, the company can now provide a one-stop payment and settlement package service that connects domestic online and offline payments with cross-border payments overseas.

Based on strong financial soundness, the company aims to enhance brand recognition both domestically and internationally to strengthen its business competitiveness.

The strategy is to efficiently reallocate overlapping resources, expand investment in risk management such as the Fraud Detection System (FDS), and reinforce the stability of settlement operations to increase consumer trust.

The merger was structured as Nice Information & Communications absorbing the newly established division created by the physical division of Nice Payments.

Following the simplified merger procedure, it was carried out as a capital-free (1:0) merger with no new shares issued. Since Nice Information & Communications already holds 100% of Nice Payments' shares, the largest shareholder will remain unchanged after the merger. The company expects the impact on the consolidated financial statements to be limited.

Kim Seunghyun, CEO of Nice Information & Communications, stated, "With our 'One Team' strategy, we will create synergy and provide safer and more convenient payment experiences for customers and merchants. The launch of the integrated VAN-PG brand will help us secure new growth engines and further enhance our corporate value."

According to Nice Information & Communications, the company is the No. 1 comprehensive payment provider in Korea, working with over 740,000 online and offline merchants nationwide. In addition to VAN and PG, it offers services such as Tax Refund Service (TRS), cross-border payments, local gift certificates, electronic gift certificates, and mobile coupon services.

This content was produced with the assistance of AI translation services.