KG Financial said on the 2nd that the cumulative number of applications for its early-settlement service surpassed 400 in a month.
The early-settlement service is a financial service that pays online mall sellers their expected sales proceeds from card companies and open markets earlier than the scheduled settlement date. Sellers can more easily secure operating funds, enabling more efficient business operations.
KG Financial is running a promotion in September that provides credits usable for the early-settlement service to sellers who newly sign up during the month.
The credits are paid on a sliding scale based on sales over the past three months. If average sales are less than 100 million won, 1 million won is paid; if they are at least 100 million won but less than 300 million won, 1.5 million won; and if they are at least 300 million won, up to 2.5 million won in credits are paid. The credits can be used to cover up to 50% of fees incurred when using the early-settlement service and are valid through Dec. 31.
A KG Financial official said, "We planned this promotion to support sellers' cash management ahead of the peak e-commerce season in the second half," adding, "We will continue to make improvements so that sellers can use the service more conveniently and stably."