Toss said on the 29th that it signed a strategic memorandum of understanding (MOU) with Shinsegae DF for customer-centric digital innovation and agreed to introduce Toss Pay to the on- and offline payment environment of Shinsegae Duty Free.
The signing ceremony held on the 28th took place at Shinsegae DF's headquarters in Jung-gu, Seoul, with Toss CEO Lee Seung-gun, Toss Pay institutional sector head Jin Pil-gyu, and FacePay manager Bang Seung-ik in attendance, along with Shinsegae DF CEO Lee Seok-gu, head of sales and marketing Kim Hyun-chul, and marketing manager Gwak Jong-u, among other senior executives from both companies.
Through this agreement, the two companies will promote the establishment of a simple payment service based on Toss Pay and cooperate on joint marketing, working together so customers can use a more convenient and consistent payment service.
They will strengthen the Toss Pay partnership across Shinsegae Duty Free's on- and offline channels and plan to apply Toss's facial recognition payment service, FacePay, at the Incheon Airport and Myeong-dong locations. In addition, the two companies will enhance personalized customer benefits by expanding data-driven joint marketing and will introduce a new digital shopping experience that spans both online and offline.
With this agreement, Toss has further strengthened its customer-centric payment ecosystem. In particular, Shinsegae Duty Free's distribution network and digital operational capabilities are expected to serve as an important foundation for expanding the Toss Pay brand experience and improving customer access. Through this, Toss plans to further broaden a simple payment ecosystem that connects domestic and overseas customers.
Bang Seung-ik, Toss FacePay manager, said, "The partnership with Shinsegae Duty Free is a meaningful opportunity for Toss Pay to expand across customers' overall shopping and travel experiences," adding, "We will continue to drive innovation in payment and data-driven services by working with diverse partners so customers can enjoy more benefits and convenience."