Korea Credit Data Acquires Fiserv Korea... "Service to 1.85 Million Businesses"

Acquisition of Korean Branch of Payment Financial Service Company
Company Name Changed to 'Hanguk Payment Networks'

Kim Dong-ho, CEO of Korea Credit Data

[Asia Economy Reporter Kim Bo-kyung] Korea Credit Data, which operates the small business management service 'Cash Note,' announced on the 31st that it has acquired Fiserv's Korean branch, 'Fiserv Korea.'

Korea Credit Data had announced earlier this month that it became a unicorn company (a private company valued at over 1 trillion KRW) after attracting investments from LG Uplus and others.

Fiserv is a payment financial service technology company, and this time it also established a partner relationship with Korea Credit Data based on strategic investment. It plans to provide Korea Credit Data with growth and business development opportunities, including collaboration with Fiserv's innovation team.

Fiserv Korea's company name will be changed to 'Korea Payment Networks (KPN).' Although the corporate name changes, all businesses and services previously provided by Fiserv Korea will continue, and existing contracts will be fully inherited.

Through the acquisition of Fiserv Korea, the number of business locations using services provided by Korea Credit Data has increased to approximately 1.85 million.

Korea Credit Data has been providing services such as management (Cash Note), POS (I'm U), and small business support information (Bizbot) to about 1.7 million business locations nationwide through its headquarters and subsidiaries. Adding the 150,000 business locations using Fiserv Korea's payment services, the total number of business locations served reaches approximately 1.85 million.

Ebo Distelbrink, Head of Fiserv Asia Pacific, said, "We will continue to provide services to global companies that need payment services in the Korean market while helping small business owners and self-employed individuals have better payment services."

Kim Dong-ho, CEO of Korea Credit Data, said, "Through the acquisition of Fiserv Korea, we have expanded the horizon of the business ecosystem to include payment systems," adding, "We will make various business moments such as sales management, customer contact management, and purchasing easier, faster, and smarter."

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