SettleBank, 7 Consecutive Quarters of Record Sales..."Growth in Simple Payment and PG"

[Asia Economy Reporter Hyunseok Yoo] SettleBank announced on the 3rd that its consolidated sales and operating profit for the third quarter recorded 29.7 billion KRW and 4.3 billion KRW, respectively, marking increases of 47.6% and 31.2% compared to the same period last year.

The strong performance in the third quarter was driven by steady growth in the simple cash payment business and explosive sales growth in the PG (Payment Gateway) business segment. The simple cash payment business segment achieved double-digit growth consecutively for the second quarter in a row, continuing its sustained growth trend.

In addition, the PG business segment, which has been a focus since last year, also achieved significant sales growth. Sales in the PG business segment for the third quarter grew approximately 145% year-over-year. Compared to the previous quarter, sales increased by about 26%, leading SettleBank’s strong third-quarter performance.

Choi Jongwon, CEO of SettleBank, stated, “Along with steady growth in existing businesses such as simple cash payments and virtual accounts, we were able to continue strong performance by achieving explosive expansion in the PG business. Going forward, SettleBank will continuously explore new business areas where the company can leverage its technological know-how and network capabilities to secure future growth engines.”

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