Toss Introduces International Remittance Service in Collaboration with Fintech Companies Moin and Sentbe

Overseas Remittance Service for Korean Customers
Expansion to Foreign Customers Planned for Third Quarter

Toss announced on May 28 that it will officially launch its "international remittance service" in collaboration with fintech companies specializing in overseas money transfers.

To start, Toss has integrated the service of Moin, a leading domestic company specializing in international remittance, into its own application to provide a simple overseas transfer function for Korean customers.

Moin emphasizes its strengths of offering transfer speeds up to four times faster than commercial banks and fees up to 90% lower. It also provides a 100% preferential exchange rate benefit for all currencies.

Users can access the service by clicking "Moin International Remittance" in the "All" tab at the bottom of the Toss app. Transfers can be made 24 hours a day, 365 days a year, to 60 countries.

Existing Moin users can use the service directly within the Toss app without additional authentication or information input. New customers can also make transfers after a simple identity verification process.

If a user first uses the Moin service through Toss, their account will be automatically linked to the Moin app without the need for separate registration.

Meanwhile, Toss is preparing to launch an international remittance service for the 2 million foreign nationals residing long-term in Korea.

Toss is working with Sentbe, a global foreign exchange total solution company, aiming to launch the service within the third quarter.

Sentbe is a fintech company that provides personal international remittance services, mainly targeting foreign customers.

Foreign nationals account for about 70% of all individual users. Sentbe offers customer support in more than 10 languages, including English, Chinese, Vietnamese, and Uzbek.