"Toss Terminal Distribution to Increase Tenfold"
Toss Place, a subsidiary of Viva Republica, the operator of Toss, specializing in payment terminal manufacturing and payment solution supply, announced on the morning of the 4th that it held a board meeting and appointed Choi Jae-ho as the new CEO. CEO Choi will assume the position of CEO of Toss Place starting today, with a term of two years.
CEO Choi is a payment business expert who joined Toss in 2020 after working at IBM and Hyundai Card. He successfully led the MyData business at Toss and recently served as the Vice President in charge of the Toss Pay business, achieving a threefold increase in Toss Pay transaction volume and user numbers over two years.
CEO Choi stated, "We will expand the distribution of Toss Place terminals tenfold over the next two years compared to the current level," adding, "Through this, Toss Place will take the lead in innovating and driving the payment market in South Korea."
Toss Place is an affiliate established by Toss to challenge offline store innovation. Its goal is to digitize the offline payment and merchant business market, which has been stagnant for decades since the advent of credit cards, and to transform the supplier-oriented market environment into a consumer-oriented one. The number of Toss Place merchants surpassed 65,000 as of last month, just one year and eight months after the terminal launch, and its market share in recruiting new merchants exceeds 20%.
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