CHAI
CHAI (PortOne Solutions Co., Ltd.) was a South Korean fintech operating a mobile prepaid payment wallet (CHAI Money) and BC Card-affiliated check card for consumers. After raising approximately $120 million, the company wound down B2C services in 2024-2025 and rebranded to focus on B2B payment infrastructure.
- Company typePrivate
- Founded2019
- HeadquartersSeoul, South Korea
- Headcount51–100
- GTM typeB2C
- OfferingSoftware
What CHAI does
CHAI (차이), legally 주식회사 포트원솔루션스 (PortOne Solutions Co., Ltd., formerly CHAI Corporation), was a South Korea-headquartered fintech founded in June 2019 that operated a consumer-facing mobile prepaid payment platform until its full B2C wind-down in 2024-2025. The platform centered on CHAI Money (차이머니), a prepaid electronic payment instrument under the Korean Electronic Financial Transaction Act, composed of user-loaded "charged money" withdrawable at any time and non-cashable "accumulated money" earned via cashback promotions. Distribution occurred through a mobile-first iOS/Android app, with the CHAI Check Card issued under partnership with BC Card enabling payments at BC Card's nationwide online and offline merchant network. The company maintained 100% of customer prepaid balances in external trust with Hana Bank as the prepaid fund management institution, in compliance with Korean electronic financial transaction regulations.
Revenue was generated via payment transaction fees at partner merchants and promotional cashback mechanics, supported by ancillary features including auto-recharge (50,000-1,000,000 KRW preset thresholds), the Boost promotion button, and lightning coupons (번개). The company raised approximately $120 million cumulatively across a 2020 Series B ($15M), a December 2020 Series B ($60M, led by Hanwha Investment and Securities with SK Networks, SBVA, Hashed, and Korea Investment Partners among others), and a December 2021 Series B-plus ($45M, co-led by SoftBank Ventures Asia and Nyca Partners) intended to fund Southeast Asia expansion into Vietnam and Thailand and the development of automated payment infrastructure for digital merchants. CHAI also acquired Port One (포트원) in October 2020, an asset whose name subsequently became the basis for the company's 2025 corporate rebrand.
On August 30, 2024, management announced the discontinuation of B2C services citing deteriorating investment conditions and economic downturn, with payment services terminated November 1, 2024, app access halted December 27, 2024, and the app fully shut down April 18, 2025. Prepaid balances totaling 5,101,169,616 KRW (~$7.1M USD) across 137,253 users were refunded in bulk via Hana Bank in January 2025 following external audit by Arc Accounting Firm. On March 10, 2025, the company legally changed its name to PortOne Solutions Co., Ltd. and is now concentrating remaining resources on B2B payment infrastructure services.
CHAI firmographics
Firmographics- Name
- CHAI
- Legal name
- 주식회사 포트원솔루션스 (PortOne Solutions Co., Ltd.)
- Website
- https://chai.finance
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- CHAI (PortOne Solutions Co., Ltd.) was a South Korean fintech operating a mobile prepaid payment wallet (CHAI Money) and BC Card-affiliated check card for consumers. After raising approximately $120 million, the company wound down B2C services in 2024-2025 and rebranded to focus on B2B payment infrastructure.
- Ownership category
- akta.pro rank
CHAI industry classification
Industry- Product category
- Mobile Payments
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Recurring Billing, Subscriptions & Tokenized Payments (CRAFALAH)
- akta.pro secondary industries
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC)
Keywords
Where CHAI is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices1 record
Markets served
CHAI business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Payment Transaction Fees: CHAI generated revenue from payment processing at partner merchants. Users could make payments at BC Card affiliated merchants using CHAI Money loaded on the app or via CHAI Check Card.
- Cashback/Promotion Revenue: The platform offered promotional cashback (적립된 머니) to users on payments, creating user engagement and merchant incentives. Cashback was limited to non-cashable payments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Prepaid wallet with automatic recharge options |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels1 record
CHAI product offering
Product offeringCore offering
CHAI operated a mobile payment service consisting of a prepaid stored-value electronic wallet (CHAI Money) usable at contracted merchants, a simple payment service (CHAI Pay) with barcode and auto-pay features, and a BC Card-affiliated check card (CHAI Check Card) for online and offline purchases. The service was available to South Korean consumers aged 14+ with a domestic phone number and bank account, and was wound down between September 2024 and April 2025 as the company shifted focus to B2B payment infrastructure.
Product overview
CHAI(차이)는 주식회사 포트원솔루션스(구 주식회사 차이코퍼레이션)가 운영하는 모바일 선불결제 서비스로, 차이머니(전자지급수단), 차이간편결제, 차이체크카드 등으로 구성된。B2C 서비스는 2019년 6월 런칭되어 2024년 말 전면 종료되었으며, 나머지 역량은 B2B 서비스에 집중하기 위해 서비스가 종료됨. 현재 선불충전금 환급 절차를 진행中이며 2025년 4월 18일 앱 서비스 종료 예정
Differentiator
Problem solved
Functional benefit
Brands
- CHAI Pay (차이페이): Simple payment service allowing payments using CHAI Money at partner merchants.
- CHAI Check Card (차이체크카드)
Products and services
- CHAI Money (차이머니)
- CHAI Pay (차이페이)
- CHAI Check Card (차이체크카드)
Companies that use CHAI
Customer profileSegments1 record
Ideal customer profiles1 record
CHAI technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature4 records
CHAI partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- BC CardcoreBC Card is a South Korean credit card company. CHAI partnered with BC Card to issue the CHAI Check Card (마스터카드) and enable payments at BC Card's online and offline merchant network. Contract with BC Card ended February 1, 2025 as part of service termination.
- 하나은행 (Hana Bank)coreHana Bank served as the external prepaid fund management institution (선불충전금 관리기관). The company maintained 100% of customer prepaid balances in external trust with Hana Bank for safety and regulatory compliance.
Scale indicators3 records
Recent moves8 records
Expansion highlights3 records
CHAI competitors and assessment
Company assessmentDirect peers
- Toss: Korean fintech super-app offering mobile payments, bank-to-bank transfers, and merchant payment services. Direct competitor in both B2C mobile payments and emerging B2B payment infrastructure in Korea.
- Kakao Pay: Dominant Korean mobile payment platform with both consumer wallet and B2B merchant payment gateway services. Direct competitor across the consumer-to-merchant payment stack that CHAI targeted.
- Naver Pay: Naver's consumer and merchant payment arm with deep e-commerce integration in Korea. Direct competitor in mobile wallet and digital merchant payment infrastructure.
- KG Inicis: One of Korea's largest B2B payment gateway providers serving online and offline merchants. Direct competitor to the B2B payment infrastructure services that PortOne Solutions is pivoting toward.
- NHN (NHN Entertainment): Korean payment gateway and fintech platform operator (NHN Smartstore, NHN Pay) serving digital merchants. Direct competitor in Korean B2B payment processing.
- Nice Payments: Korean payment gateway and online transaction processing provider for merchants. Direct competitor in B2B payment infrastructure and merchant acquiring services.
Broad incumbents
- Samsung Pay: Samsung's mobile payment platform with broad device-level distribution and offline merchant coverage. Established incumbent in Korean consumer mobile payments that CHAI competed against.
- Adyen: Global payment processing platform serving large digital merchants across Asia-Pacific. Broad incumbent competitor for cross-border B2B payment infrastructure that PortOne Solutions targets in SEA.
Regional players
- MoMo (M_Service): Leading Vietnamese mobile wallet and payment platform for consumers and merchants. Regional competitor for the Vietnam market expansion that was funded by CHAI's Series B+.
- GrabPay: Southeast Asia super-app payment service spanning consumer wallets and merchant payment infrastructure across Vietnam, Thailand, and other SEA markets. Regional competitor in CHAI's announced SEA expansion markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks7 records
Key highlights7 records
Customer concentration
CHAI compliance and trust
Trust signalCompliance3 records
CHAI financial estimates
Financial estimateRevenue estimate
Valuation estimate
CHAI leadership team
Management profileNumber of profiles
Profiles1 record
CHAI funding detail
Funding detailFunding overview
Funding rounds3 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CHAI M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CHAI
What does CHAI do?
CHAI operated a mobile payment service consisting of a prepaid stored-value electronic wallet (CHAI Money) usable at contracted merchants, a simple payment service (CHAI Pay) with barcode and auto-pay features, and a BC Card-affiliated check card (CHAI Check Card) for online and offline purchases. The service was available to South Korean consumers aged 14+ with a domestic phone number and bank account, and was wound down between September 2024 and April 2025 as the company shifted focus to B2B payment infrastructure.
Is CHAI a public or private company?
CHAI is a private company. It is classified as venture growth investor backed and is currently operating.
When was CHAI founded?
CHAI was founded in 2019. It employs 51 to 100 people.
Where is CHAI based?
CHAI is headquartered in Seoul, South Korea, in the Asia region.
How does CHAI make money?
Two revenue lines are on record. Payment Transaction Fees are the primary driver. The others are cashback/Promotion Revenue.
Who are CHAI's main competitors?
Direct peers on record are Toss, Kakao Pay, Naver Pay, KG Inicis, NHN (NHN Entertainment) and Nice Payments. Broad incumbents are Samsung Pay and Adyen. Regional players are MoMo (M_Service) and GrabPay.
Does CHAI have an API?
No public API is recorded for CHAI.
What industry is CHAI in?
CHAI's product category is Mobile Payments. Its primary akta.pro industry code is CRAFALAH, Recurring Billing, Subscriptions & Tokenized Payments, with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its NAICS code is 52232 and its SIC code is 6199.