Visa Korea "Providing Solutions to Markets in Desperate Need of Big Data Utilization"

President Patrick Yoon: "Doing Our Best to Secure Competitiveness of Various Partners"

[Asia Economy Reporter Ki Ha-young] "Visa consulting services will provide solutions to markets that desperately need big data utilization and contribute to the activation of data projects promoted by the government."

Patrick Yoon, CEO of Visa Korea, stated this at a press conference held on the 13th at The Plaza Hotel in Jung-gu, Seoul, adding, "We will do our best to make this year a year in which various domestic partners can secure new competitiveness."

To this end, starting this year, Visa Korea will expand big data consulting services not only to domestic card companies but also to fintech firms, internet banks, and online merchants. The plan is to go beyond simply providing data analysis solutions and build customized data analysis models together with partners, aiming for mutual growth in the rapidly changing digital era.

Visa will more precisely analyze and process the information accumulated in VisaNet, which handles over 65,000 transaction data per second, to support major partners in strengthening big data-based marketing activities. Visa operates a separate Visa Consulting and Analytics (VCA) team composed of about 500 data analysis experts and consultants. Consulting services are provided in 11 countries across the Asia-Pacific region, including Korea. Domestic professional personnel have also been steadily recruited since last year.

Additionally, based on collaboration with domestic fintech companies this year, new products and services will be introduced. The overseas mobile payment service enabling offline payments, first introduced last year with Hana Card, will be launched with various partners. Visa Direct, Visa's P2P overseas remittance service, will also be introduced for the first time in the first half of this year. The 'Visa Innovation Station,' established for closer collaboration with domestic fintech companies, is also in its final preparation stages. Through this, the plan is to develop it into a practical business innovation platform by utilizing customer-based experiences and Visa's latest solutions.

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