Hecto Financial, a fintech company, announced on July 1 that it has been officially selected as the payment gateway (PG) agency for the online sales of Sports Toto, the Sports Promotion Voting Rights, and will begin providing payment services for the internet sales system in earnest.
The Sports Toto project aims to create a fund for the promotion of national leisure sports and sports development. By predicting the outcomes of various sports events, it contributes to fostering an enjoyable sports viewing culture. The annual issuance amount is approximately 6 trillion KRW, with about 630 billion KRW of that coming from online purchases.
Hecto Financial ranked first in the evaluation scores during the public bidding for the 'Sports Promotion Voting Rights Online Sales Payment Service (PG) Agency Selection Project.' After being chosen as the preferred negotiation partner and completing detailed negotiations, the company signed the main contract in April. As a result, Hecto Financial will provide payment services related to Sports Toto purchases through the internet sales system for a total of three years, until June 2028.
Hecto Financial plans to contribute to fostering a healthy gaming culture and to the development of Korean sports by providing a stable online payment service in the future.
A representative from Hecto Financial stated, "Based on our business capabilities and expertise in operating stable services, accumulated through supplying various customized payment systems for over 20 years, we will do our utmost to provide the Sports Toto online payment service."
Meanwhile, Hecto Financial is the only fintech company in Korea that possesses the source technology for all payment methods. It provides a wide range of customized payment services tailored to client needs, including simple cash payments, credit cards, and mobile payments. Recently, the company has expanded its business areas to include kiosks and global foreign currency settlement services, and is preparing to enter the stablecoin market by leveraging its experience in payment and settlement, prepaid recharge, and local currency sectors.
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