- KB Kookmin Bank
to join GLN network to expand Korea-driven global payment
network
- Korean financial
groups cooperate to strengthen global payment network and lead the
future financial ecosystem
- KB Kookmin Bank
to provide mobile payment and ATM withdrawal service to customers
in Thailand, Taiwan, Singapore, Japan, Vietnam, Laos, Hong
Kong, Guam and others
through GLN
SEOUL,
South Korea, Dec. 18,
2022 /PRNewswire/ -- GLN International (GLN), the
global payment network company established by Hana Financial Group,
signed MOU with KB Kookmin Bank to join the global payment
network.
One of the largest Korean bank which has fiercely competed in a
global market, decided to cooperate with GLN to expand the network
together.
GLN (Global Loyalty Network) is global payment network service
provider which connects international financial companies,
distribution channels and reward point providers so that users can
enjoy cross-border mobile payment, ATM withdrawal service and
remittance.
Hana Bank first introduced GLN in
April, 2019 by launching the global mobile payment service and spun
off 'GLN International' in July, 2021, to facilitate network
business and secure independence from its mother company.
GLN's service is provided through Hana 1Q, the mobile banking
application of Hana Bank, which
offers mobile payment service in Thailand, Taiwan, Singapore, Vietnam, Japan, Laos,
Hong Kong, Guam and mobile ATM withdrawal service in
Japan, Vietnam, Laos, thanks to the partnership between GLN
and local partners.
KB Kookmin Bank's application KB Starbanking, LiivNext, KB
Wallet users will also be able to use GLN's cross-border mobile
payment and withdrawal service, based on MOU signed between GLN and
KB.
GLN International's CEO Han
Jun-Seong said, "To succeed in a global business, the mutual
cooperation among Korean financial companies is requisite. KB
Kookmin Bank decided to join GLN network as agreed on needs to
provide Korea-driven payment service to customers whereas
previously having to rely on foreign-driven network processors".
As KB Kookmin Bank joins GLN's network, other financial
companies in Korea are also expected to participate in the group.
More companies joining the network will strengthen the
competitiveness of GLN, and Korean financial market as a whole.
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SOURCE GLN International