Yoonseonsaeng Launches 'YoonPay', the First Payment Service in the Education Industry

[Asia Economy Reporter Donghyun Choi] YOONSEONSAENG, a specialized English education company, announced on the 3rd that it has launched its own payment service, 'YOON Pay,' the first of its kind in the education industry.

YOON Pay is a simple payment platform that allows parents who are members of the company to easily and conveniently pay for educational fees with just the YOON Pay application. The YOON Pay app is compatible with both Android and iOS.

YOON Pay enhances customer convenience by supporting simple payments. Once frequently used credit card payment information is registered, educational fees can be easily paid with a simple authentication process. By setting up the automatic card payment feature, the hassle of paying educational fees every month is eliminated.

Currently, YOON Pay is available only for payment of educational fees by parents of YOONSEONSAENG's online English brand, 'YOONSEONSAENG Basic.' However, YOONSEONSAENG explained that it plans to expand users and usage locations and enhance the service within the first half of the year. The 'YOON Cash' used in YOON Pay can be earned through event participation or prepaid charging and saved to be used like cash. In this case, YOON Pay users will be able to receive various discounts and reward benefits.

Yoon Soo, co-CEO of YOONSEONSAENG, said, "We will strengthen customer loyalty by providing greater discounts and reward benefits to parents and teachers using YOON Pay," adding, "Furthermore, we will evolve into a comprehensive financial platform based on membership that offers customers various benefits and experiences, not limited to payment services."