Paymint

Paymint is a South Korean fintech company founded in March 2014 by CEO Kim Young-hwan. The firm specializes in providing payment infrastructure and services designed to simplify transactions for small and medium-sized enterprises (SMEs). The company's core mission is to innovate the payments market, reducing costs and streamlining operations for merchants.

Paymint operates on a B2B and B2C model, offering several key products. Its flagship service, "Gyulje-Seonsaeng" (Payment Teacher), is a mobile billing and payment management service that allows businesses like private academies and hospitals to send payment notifications and receive funds via messenger apps such as KakaoTalk. This service bypasses traditional Payment Gateway (PG) systems, which helps to lower transaction fees and shorten settlement times for merchants. Other services include "LINQ," a smart order and mobile POS solution for restaurants and cafes, and "SPEEID," a simple web-based payment integration service. For B2B clients, Paymint provides "iAUTH," a credit card integrated authentication service.

The company has achieved significant milestones, including being the first in Korea to register as an electronic financial business operator using AWS cloud services in January 2020. In 2019, it was selected as an innovative financial service by the Financial Services Commission, which was pivotal for its growth. Paymint has secured strategic investments from entities like KT Investment and POSCO Technology Investment. In November 2023, Kakao Pay acquired Paymint to enhance its offline payment services and create synergy between the two companies. By October 2024, its "Gyulje-Seonsaeng" service had surpassed 70,000 affiliated stores.

Keywords: payment infrastructure, fintech, mobile payments, SME financial services, non-PG payment, smart order, billing service, POS solutions, merchant services, Kakao Pay