Seoul Electronics & Telecom Enters 'Post-Payment Reward' Platform Business... Secures New Growth Engine Based on POS Infrastructure

Seoul Electronics & Telecom Co., Ltd. (027040) is making a full-scale entry into the platform business, aiming to secure new revenue models based on its existing POS and payment infrastructure business.

Seoul Electronics & Telecom announced that it has signed a strategic business agreement with Pathfinder Labs, a specialized platform company, to jointly develop a 'Post-Payment Reward' platform. The official service is scheduled to launch in September.

This platform is characterized by its performance-based model, which generates revenue for the platform operator only when an actual purchase occurs, unlike conventional advertising-centric platforms.

Pathfinder Labs CEO Um Yunsang explained, “Conventional platforms require upfront advertising expenditures regardless of their effectiveness, but the new platform is designed to share revenue only when an actual transaction by a member takes place, thereby enhancing efficiency.”

Consumers receive a random discount coupon of 10% to 90% with every payment at partner stores, which can then be used at other affiliated locations. Every time a coupon is used for another payment, a new discount coupon is generated—creating a virtuous cycle platform that encourages both repeat consumption and return visits.

Merchants can directly set the discount rate between 10% and 90%, and can freely run various marketing activities, including time-based, weekday, and seasonal promotions. New partners will be provided with ADP (Advertising Points) to ease the burden of initial promotion costs.

Seoul Electronics & Telecom will be responsible for building dedicated POS and payment infrastructure, developing the iOS version and global platform, and advancing the overall service. Development of the Android version has already been completed. After the service launches, the company plans to expand its network of partner stores and franchises nationwide, and is also seeking to enter the Chinese and Southeast Asian markets.

The company’s strategy is to use this new platform business model as an opportunity to shift from a hardware-focused business structure to a high value-added venture that combines platform and payment infrastructure. By linking this with the existing POS business, they also expect to secure recurring revenue from the platform.

Jaehyun Lee, CEO of Seoul Electronics & Telecom, stated, “This project is about creating a win-win platform ecosystem that allows consumers, partners, and the platform itself to grow together. We will organically integrate dedicated POS, payment infrastructure, and platform technology to establish a new growth axis and become a leading platform solution provider.”

With the addition of a performance-based reward platform to its existing POS and payment infrastructure businesses, Seoul Electronics & Telecom aims to establish a platform-centered recurring revenue model and expand its business beyond Korea into overseas markets.

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