Toss Pay
Toss Pay is a mobile financial service app based in South Korea. Launched in 2015 by Viva Republica, a South Korean fintech startup, and initially focused on P2P money transfers. Toss Pay now provides over 40 financial services such as money transfers, loans, stock trading, credit score viewing, and investments. Toss Pay has received multiple rounds of investment from a host of domestic and international instituations, which has cemented it's status as the leading fintech unicorn in the South Korean Market.
Toss Pay allows users to link Visa, MasterCard, and almost any local bank account in South Korea, allowing users to make bank transfers and online payments.
Properties
The properties of the Toss Pay are shown in the following table:
Payment type | Alipay+ payment method | ||
Funding source | Balance, Points, BNPL, Bank Transfer, Cards | ||
Acquirer | AlipaySG, AlipayEU, AlipayUS, AlipayUK | Acquiring region | SG, AU, HK, EU, UK, US |
Payment flow | Redirect | Checkout Payment | ✔️ |
Buyer country/region | South Korea | Auto Debit | ✔️ |
Fund deducted | Real-time | Refund | ✔️ |
Processing currency | KRW | Partial refund | ✔️ |
Minimum payment amount | 100 KRW | Chargeback/Dispute | ❌ |
Maximum payment amount |
| Refund period | 365 days |
User experience
Checkout payment
The following graphics show the journey of paying with Toss Pay:
Auto debit
The following graphics show the authorization process of Toss app:
Log in with Toss app
Log in without Toss app
