Hecto Financial Posts Record Results for First Three Quarters of the Year
Hecto Financial posted its highest-ever results for the first three quarters of a year.
According to Hecto Financial on Nov. 9, third-quarter consolidated revenue rose 14.9% year over year to KRW 52.6 billion, while operating profit increased 6.2% to KRW 4.8 billion. For the first three quarters, revenue totaled KRW 160.2 billion and operating profit KRW 18.5 billion, up 17.6% and 54.4%, respectively, from the same period a year earlier.
Hecto Financial has continued to grow on the back of steady growth in its core payment services, including simple cash payments and payment gateway (PG) services, as well as an expansion in new merchants and an increase in transaction volume. In particular, higher revenue from simple cash payments, driven by growth in high-margin services based on its proprietary membership program, including My Account Payment, improved profitability.
Hecto Financial has maintained steady growth in its cross-border settlement business, which launched in 2023, as its number of global merchants has increased. It is also expanding its global payment and settlement business into areas such as small-value person-to-person overseas remittances enabled by its foreign-currency license. In addition, it is laying the groundwork to take the lead in the AI payments market through proof-of-concept (PoC) projects for AI agent payments and participation in the x402 Foundation, an AI payments standards body.
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“We achieved our highest-ever results for the first three quarters of a year through steady growth in our core payment business and improved profitability,” said Choi Jong-won, CEO of Hecto Financial. “Going forward, we will strengthen the competitiveness of our existing businesses while expanding our global operations and building next-generation payment infrastructure, including stablecoin and AI agent payments, to reinforce our position as a global fintech company.”
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