Secondhand Deals Now Accept Credit Cards... Toss Bank, Gwangju Bank Launch 'Digital Joint Loan'

FSC Newly Designates 24 Innovative Financial Services
Naver Pay to Allow Secure Credit Card Payments for Secondhand Transactions
Two Banks to Jointly Review Corporate Loans and Set Loan Limits and Interest Rates

Consumers will be able to pay by credit card when buying and selling goods directly with one another on secondhand trading platforms. A new service will also allow two banks to independently review a company's loan application submitted remotely and jointly determine the loan limit and interest rate.

The Financial Services Commission (FSC) said it held a regular meeting on October 7 and newly designated 24 innovative financial services, including those described above. It also approved a request to improve regulations related to one existing innovative financial service and an extension of one service's designation period. The total number of innovative financial services designated by the FSC to date has risen to 1,164.

Naver Financial's "Safe Credit Card Payment Service for Person-to-Person Secondhand Transactions" was newly designated as an innovative financial service. When a buyer purchases a secondhand item from another individual on a trading platform and pays by credit card, the seller receives the payment after the buyer confirms the purchase. The FSC expects the service to make payments more convenient in the secondhand market, where transactions between individuals have traditionally relied mainly on cash.

Toss Bank and Gwangju Bank's "Joint Loan Service" was also designated as an innovative financial service. When a business applies for a loan through Toss Bank's digital channel, Toss Bank and Gwangju Bank review the application in sequence and jointly determine the loan limit and interest rate. The two banks each provide 50% of the loan. The FSC said Gwangju Bank could reduce operating costs by using Toss Bank's digital channel and potentially improve loan terms, including interest rates. For consumers, the service will improve access by allowing them to apply for a Gwangju Bank loan through the Toss Bank app.

The FSC also newly designated Mirae Asset Securities' "Mobile Enrollment Service for Wrap-Type Comprehensive Asset Management Accounts (CMAs)." Previously, key information had to be explained in person or by video call when customers enrolled in a wrap-type CMA. Under the new service, the product can be explained through video, with follow-up questions handled by an artificial intelligence (AI) chatbot or a customer service representative. The FSC expects the service to standardize product explanations and shorten the enrollment process.

In addition, 21 services under the "Generative AI Services for Employees and Customers" program, offered by 14 companies including Kakao Pay, were designated as innovative financial services. The companies will be able to connect external generative AI tools to their information processing systems and use them for employee work and customer services.

Follow-up measures were also taken for existing innovative financial services. The FSC extended the designation period for IBK Investment & Securities' "Fractional Trading Service for Overseas Stocks" by two years. For SK Securities' equivalent service, the FSC approved a request to improve regulations and plans to revise the relevant laws and regulations so the service can be offered in the future without a separate regulatory exemption.

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