Danal Unveils 'KONDA' All-in-One Prepaid Card for Foreigners and Dedicated Kiosk

Danal, a company specializing in integrated payment business, unveiled the brand name "KONDA" for its "All-in-One Prepaid Card for Foreigners" and its core infrastructure, the dedicated kiosk, on September 23.

KONDA is an integrated prepaid card service that includes all the essential features needed by foreigners residing in Korea, such as payments, deposits and withdrawals, and transportation card functionality. It is scheduled to launch in October. Any foreigner can easily issue and recharge the card through the newly introduced dedicated kiosk, and even faster issuance is possible by applying in advance through the dedicated app.

Last year, the number of foreigners residing in Korea surpassed 2.65 million, accounting for more than 5% of the total population. The annual number of inbound tourists reached 20 million, and the payment market size amounted to approximately 5.6 trillion won, indicating rapid market growth. However, there have been complaints about inconveniences caused by the payment systems of services frequently used by foreigners, such as food delivery and public transportation, being centered on domestic users. KONDA by Danal is expected to quickly address these market needs.

KONDA can be used for payments at any offline card-affiliated merchant nationwide and features the same public transportation card functionality as those used by Korean nationals. In addition, cash withdrawals in Korean won are available at dedicated kiosks and at ATMs/CDs in partnership with convenience stores across the country. Notably, the dedicated kiosk allows users to exchange dozens of foreign currencies into Korean won and features barrier-free design, making it accessible for people with disabilities.

The KONDA dedicated kiosk is being jointly developed with the specialized manufacturer Tailormachine and will be installed first in key locations frequently visited by foreign tourists. To further enhance convenience for international students and foreign workers residing in Korea, installations are also planned for universities and industrial complexes nationwide. Danal currently provides payment infrastructure for international students’ tuition at over 100 universities across the country and has previously established foreigner-only services such as WeChat Pay QR payments in the domestic market, leading the company to expect a natural influx of users to KONDA.

Danal also plans to actively collaborate with overseas airlines to enable issuance of KONDA cards abroad and to deploy them at key locations prior to travelers’ departure. In addition, Danal will work with travel SIM card companies to allow advance applications for the prepaid card and will pursue various initiatives to promote KONDA.

Jin Changyong, Head of Business Division at Danal, stated, "We are currently in the service testing and kiosk mass production phase. After the launch, we plan to provide additional features and benefits through Danal’s payment infrastructure. We aim to serve as a ‘K-Kiosk’ control tower in Southeast Asia, Europe, and other regions, and to develop KONDA into a preferred payment method not only for foreigners residing in Korea but also for those who favor K-culture and K-content, by eventually introducing online payment features as well."

Meanwhile, Danal is working to introduce unique features exclusive to KONDA, such as charging and payment services using various stablecoins. Based on the current status of stablecoin use in the United States, Japan, China, and Southeast Asia, Danal has completed internal payment testing and demonstrations. The company plans to open the service once domestic legislation is finalized.