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PayGate was registered as a foreign exchange business handling institution

PayGate will be grown as Asia's biggest global money transfer company

News provided by PayGate
July 23, 2015 13:41 KST
  • PayGate Seyfert logo

  • At PayGate's infront front gate in Korea

SEOUL--(Korea Newswire) July 23, 2015 -- Paygate Ltd. has been approved by Ministry of Strategy and Finance on 17th of July as a foreign exchange business handling institution (Foreign Exchange Transactions Regulations No. 2-22 Article 2 ① Section No. 1, and No.2)

Paygate is specialized in the cross boarder remittance business. We have had the experience of 17 years and with this accumulated know-how we plan to target the overseas remittance market more aggressively than before.

Paygate’s global marketing team leader, Donghan Lee has established the additional corporation in the United Kingdom and Singapore in the first half of this year and is on the way to do in Australia.

Based on this, we will expand our territory from Asia to Europe and the Americas. Paygate has expressed its long-term goal as to be grown like Transfer-wise in Asian version.

The legal right of foreign exchange business this time Paygate has acquired is Foreign Exchange Transactions Act that is due to Article 8 of the Enforcement Decree and the provisions of Article 13. The legal right deals with a global e-commerce transaction that occurs in the area of goods and services.

According to the announcement of the World Bank, the amount of individual transaction is increasing continuously with good prospect. The habitat with boost of internet network system and mobile phones, the markets of money transfer service through mobile phones are in rapid expansion domestically and broadly.

Also According to the announcement of the World Bank report, international transfer market is aggregated as approximately 542 billion USD (about 620 trillion in KWN) and the size of the current global remittance market is growing rapidly.

Paygate was founded in year 1998 as firm that specializes in payment. We have had a 17 year experience of global transaction, fintech businesses. Currently, we have extended out business to Seyfert banking platform which is a system of our own and fintech firms. i.e. P2P lending

We receive love calls from various fields of businesses like crowdfunding companies and bitcoin exchanges, etc.

Please ask Han Lee (+82-2-2140-2750) for global payment service and using platform.


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