Ubivelox Signs 10 Billion KRW IC Card Supply Contract with Toss Bank

[Asia Economy Reporter Jang Hyowon] Ubivelox, a mobile security solution specialist company, announced on the 12th that it has signed an IC card supply contract worth 10 billion KRW with the internet-only bank Toss Bank.

Through this contract, Ubivelox will supply all IC cards (check cards) issued by Toss Bank. The contract amount is approximately 10 billion KRW, making it the largest single contract in Ubivelox's history.

Ubivelox has been providing total security solutions to the global finance, telecommunications, and public sectors based on its self-developed COS (Chip Operating System). As a global fintech company, it recently announced the comprehensive financial platform service "Acha" and applied for MyData licensing, growing as a company specialized in security authentication.

An Ubivelox official said, "Our company has attracted new customers by collaborating with internet-only banks and payment specialist companies, achieving the number one market share in Korea," and added, "We have high expectations as the supply scale may further increase along with Toss Bank's future business growth."

Toss Bank is the third internet-only bank in Korea, having received final approval from the Financial Services Commission on June 9. It officially started operations on the 5th of this month through a launch ceremony targeting pre-registered customers. Toss Bank introduced innovative products such as intuitive and convenient banking services, a single credit loan product inclusive of low to medium credit borrowers, and the Toss Bank account with an annual interest rate of 2%.

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