What Hecto Financial does

Hecto Financial (KOSDAQ: 234340) is a Seoul-headquartered Korean fintech, originally founded as Settlebank in 2000 and rebranded in June 2022, that operates a unified payment infrastructure spanning virtual accounts, payment gateway (PG) services, cash payment (내통장결제 / Simple Cash Payment), safe prepaid instruments, and consumer apps (010PAY, RROUND Pay). The company's core technology layer includes a 21-bank virtual account network — where it holds the #1 Korean market position — plus fum banking (50 million+ monthly transactions), escrow, kiosk payment terminals supplied in partnership with Samsung Electronics, and integrations across all major Korean e-payment methods (KakaoPay, Naver Pay, Samsung Pay, Payco, Lpay) and telco billing (KT, SKT, LG U+).

The business model is transaction-fee based across multiple revenue streams: PG processing (online, offline, kiosk), banking services (virtual accounts, fum banking, simple cash payment), prepaid float and transaction fees, B2B foreign exchange, and the emerging stablecoin-based cross-border settlement rail via Circle Payments Network (CPN), which the company joined in February 2026 as Korea's first and only member, with service launch planned for May 2026. Customer segments are diversified across enterprise (Naver, Coupang, Gmarket, Bithumb, Hyundai Marine & Fire, Samsung), government (National Tax Service, Korea Customs, KEPCO, Paju City), second financial sector (insurance, telecom billing), SMB merchants, and individual consumers; the overseas settlement client base grew from 6 (2023) to 40+ enterprises by 2026.

In 2025, Hecto Financial delivered record consolidated revenue of 187.4 billion KRW (+17.7% YoY) and operating profit of 15.6 billion KRW (+17.2% YoY), reinvesting aggressively into global expansion through a Japan subsidiary (Hecto Financial Japan K.K., incorporated July 28, 2025), Moripay inbound-tourist prepaid cards in partnership with K&2P/Kanagawa, an AI agent stablecoin payout PoC with Goover and Hecto Wallet One, and a Paju City waste-disposal digital certification system that exemplifies its public-sector digitalization push. The group also holds multiple regulatory licenses including small-value overseas remittance (March 2026) and maintains ISO/IEC 27001, ISMS, and PCI-DSS certifications.

Name

Hecto Financial

Legal name

주식회사 헥토파이낸셜

Website

https://hectofinancial.co.kr

Company type

Public

Founded year

2000

Operating status

Operating

Short description

Hecto Financial is a KOSDAQ-listed Korean fintech (234340) operating a unified virtual account, PG, and cash payment infrastructure serving e-commerce, government, telecom, and B2B enterprise clients, now extending into stablecoin-based cross-border settlement via Circle's CPN and AI agent payment infrastructure.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border & FX Payments Platforms (BPAMAFAK)

akta.pro secondary industries

Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Crypto Payment Gateways & Checkout APIs (FSADAIAA), Biller Direct EBPP Platforms (FSAMAJAA)

Keywords

• Payment processing services
• Virtual account banking
• Cross-border settlement
• Stablecoin payments
• Prepaid payment solutions

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Payment Processing (PG Services): Electronic payment services enabling merchants to accept credit cards and other payment methods. Revenue generated through transaction fees charged on each payment processed. Services include online PG, offline PG, and kiosk solutions.
2. Banking Services: Virtual account services, fum banking (bulk fund transfers), 010 virtual accounts, and simple cash payment processing. Revenue derived from transaction fees and service charges for account-based payment optimization.
3. Prepaid Services: Safe prepaid service allowing customers to charge prepaid funds for online and offline merchant usage. Revenue from float on prepaid balances and transaction processing fees.
4. Cross-border Settlement Services: International settlement services for enterprise clients, including stablecoin-based cross-border payments via Circle CPN. Revenue from settlement fees and foreign exchange services.
5. Foreign Exchange Services: B2B foreign exchange services for trade payment and overseas operator settlements, plus small-value overseas remittance services for P2P transfers. Revenue from FX margins and transfer fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Hecto Financial provides electronic payment processing, virtual account banking, prepaid payment, and cross-border settlement services to merchants, enterprises, second financial sector firms, government agencies, and consumers in South Korea. Flagship offerings include market-leading 010 virtual accounts across 21 domestic banks, simple cash (My Account) payment, online/offline/kiosk PG, white-label prepaid programs (RROUND, 010PAY, Moripay), and stablecoin-based cross-border settlement via Circle's Payments Network.

Product overview

Hecto Financial operates as a unified fintech platform combining banking and payment services, with Circle CPN stablecoin-based cross-border payments as the emerging global layer. The core banking suite includes virtual accounts (market leader with 21 bank networks), 010 Virtual Account, fund banking, and simple cash payment (내통장결제). The payment processing layer spans online/offline PG services, kiosk solutions (Samsung partnership), safe prepaid, and RROUND Pay. Supporting infrastructure includes foreign exchange services, open banking integrations, and public payment systems. The company is expanding into AI agent payments for M2M economies and tourist-focused Moripay services, with Circle CPN enabling USDC/EURC cross-border settlements as the global expansion backbone.

Differentiator

Problem solved

Functional benefit

Brands

• 010PAY: 010PAY checkcard and payment service tied to customer's phone number with virtual account functionality, coupon issuance, and download-based card services
• 라운드페이 (RROUND)
• 모리페이 (Moripay)
• 안심선불
• 내통장결제
• 헥토파이낸셜 PG
• 키오스크 서비스

Products and services

• Virtual Account Service (가상계좌) Virtual account issuance for collecting customer payments, supporting all major Korean banks. Includes add-ons such as deposit transaction history inquiry, account holder name inquiry, and cash receipt issuance. Targeted at merchants, platforms, and second financial sector firms.
• 010 Virtual Account (휴대폰번호 가상계좌) Phone-number–based virtual account system that lets payers remit to a phone number instead of a separate 17-digit account number. Hecto has market-leading share in 010 virtual accounts in Korea across 21 banks.
• Fund Banking Service (자금관리업) Customer-fund banking service for second financial sector clients (insurance, securities) that need segregated trust accounts and escrow-style fund custody with virtual account infrastructure.
• Simple Cash Payment (My Account Payment, 내통장결제) PIN-based transfer payment that lets buyers pay from their bank account with a simple password, without a separate card or wallet. Includes safety features: victim protection refund, scam prevention, withdrawal limits, and prevention of unauthorized use.
• Online PG (Payment Gateway) Payment gateway for online merchants and platforms, integrating all major payment methods including credit card, bank transfer, virtual account, and simple cash payment, with add-on modules including Phone Payment, Gift Card Payment, and Point Damoa.
• Offline PG (CAT Payment) Card-terminal payment processing for offline retail merchants (CAT / VAN), enabling credit card, debit card, and cash-receipt issuance.
• Kiosk Payment Service Self-service kiosk payment integration using SoC technology that combines online (magnetic/IC chip) and offline (CAT) payment methods, designed for unmanned stores and self-service retail.
• Safe Prepaid Service (안전선불) Safe prepaid issuance platform with partnerships across all 17 Korean banks and external institutions. Distributes, issues, and operates prepaid cards using Hecto's own safety infrastructure.
• RROUND Pay Integrated payment membership service offering merchants offline/online discount integration. Users receive average ~10% discount on offline spending, plus various membership benefits on online/offline purchases.
• 010PAY Brand under Hecto Financial that provides free basic payment cards with mileage, point, reward, and gift-card features for individual consumers; integrates with subsidiaries Hecto Card, Hecto FinTech, Hecto Data, Hecto Capital, Hecto Logistics, and Hecto Lab.
• Moripay (Tourist Prepaid Payment) No-KYC prepaid payment card for inbound foreign tourists in Korea, distributed in partnership with K&2P; supports overseas delivery, real-name verification, and overseas simple payment flows.
• Foreign Exchange Service (외화환전/송금) Foreign-exchange remittance service for global money movement, supporting currency conversion and overseas settlement flows for Korean importers, exporters, and FX-sensitive businesses.
• Circle CPN Cross-Border Payment (USDC/EURC) Cross-border settlement service leveraging Circle's Payments Network for USDC/EURC stablecoin transfers with ~1-day T+1 settlement and 24/7 availability. Hecto is the sole Korean Circle CPN partner.
• AI Agent Stablecoin Payment Infrastructure (PoC) Proof-of-concept infrastructure enabling AI agents to autonomously execute stablecoin payouts through Circle CPN, using natural-language commands to trigger USDC/EURC transfers.
• White Label Solution (화이트라벨 솔루션) Custom-branded payment and financial services solution that allows partners (e.g., Hecto subsidiaries, merchants, fintechs) to create their own payment services using Hecto's prepaid, banking, and PG infrastructure.

Quantifiable outcome

• Stablecoin-based cross-border payments reduce foreign exchange fees by approximately 70% compared to traditional methods
• +4 more outcomes

Named customers27 records

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered flagship, core and strategic.

• Goover (Saltlux US subsidiary)flagshipStrategic or Co-development Partner · 16 April 2026Strategic partnership to build automated stablecoin payout system optimized for AI agents. Goover users will receive AI content creation revenue settlements in USDC stablecoin. Saltlux deposits USD which Hecto Financial converts and distributes via digital wallets. This POC targets the emerging machine-to-machine (M2M) payments market.
• Hecto Wallet OnecoreTechnology or Integration · 16 April 2026Blockchain wallet infrastructure subsidiary providing digital asset wallet creation and management services. Enables stable digital payment environment for AI agent stablecoin settlements. Part of Hecto Group ecosystem providing one-stop digital wallet services.
• K&2P (Moripay)strategicChannel Partner/ Reseller/ Distributor · 31 March 2026Exclusive partnership with Japanese eSIM provider K&2P to launch Moripay prepaid payment service for inbound Korean tourists. Leverages Kanagawa's 100万+ annual eSIM sales to pre-market prepaid payment cards to tourists before arrival in Korea. Aims to build 'Asia integrated payment belt' starting with Japan, expanding to Taiwan, Vietnam, Thailand.
• TripleAstrategicStrategic or Co-development Partner · 5 February 2026Singapore-based licensed stablecoin payment company serving 20,000+ enterprise clients across 120+ countries in Asia, Europe, and Americas. MOU for stablecoin-based payment and settlement model development, global cross-border payment market opportunity co-development, and next-generation payment trend response cooperation.
• Circle (Circle Technology Services, LLC)coreTechnology or Integration · 3 February 2026Hecto Financial is Korea's first and only member of Circle Payments Network (CPN), gaining access to global stablecoin-based cross-border payment infrastructure using USDC and EURC. The partnership enables automated cross-border settlement with approximately 20-30 Tier-1 global financial institutions. Hecto Group companies also participate in Circle's Arc public testnet for stablecoin blockchain infrastructure.
• Samsung ElectronicsstrategicTechnology or Integration · 1 August 2024Supply agreement for Samsung barrier-free kiosks. Hecto Financial provides payment integration for Samsung's accessibility-focused kiosk solutions.
• KakaoPay, Payco, Lpay, Naver Pay, Samsung PaycoreTechnology or IntegrationIntegration partnerships with major Korean payment platforms including KakaoPay, Payco, Lpay, and Naver Pay for seamless payment acceptance through Hecto Financial's PG services.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• TripleA: TripleA is a Singapore-licensed stablecoin payment company serving 20,000+ enterprises across 120+ countries. Hecto signed an MOU with TripleA in February 2026 for stablecoin payment cooperation, making it a complementary peer in cross-border stablecoin settlement.
• Circle: Circle is the USDC issuer and operator of Circle Payments Network (CPN). While technically a partner rather than competitor, Circle's stablecoin settlement layer is directly comparable to Hecto's emerging CPN-based offering and represents the underlying infrastructure Hecto distributes in Korea.

Direct peers

• KakaoPay: KakaoPay is Korea's dominant mobile payment and PG platform with extensive merchant network and consumer wallet. It competes directly with Hecto Financial's PG services, mobile payment products, and merchant acquiring capabilities, and is also integrated as a Hecto partner payment method.
• Smartro: Smartro is a Korean payment solutions company providing PG services, VAN services, and payment terminals. Directly comparable in online/offline PG, VAN infrastructure, and merchant acquiring.
• KG INICIS: KG INICIS is one of Korea's largest payment gateway providers, offering online/offline PG, mobile payments, and billing services. Directly comparable to Hecto's core PG and virtual account business with similar enterprise merchant focus.
• Toss (Viva Republica): Toss is Korea's leading fintech super-app covering payments, remittances, lending, and investing. Comparable to Hecto in domestic Korean payment processing, virtual account services, and remittance offerings, with broader consumer brand reach.
• NICE Payments: NICE Payments, part of NICE Group, provides payment gateway, VAN, and mobile payment services in Korea. Comparable to Hecto's PG and billing infrastructure with similar enterprise and merchant focus.
• NAVER Pay (Naver Financial): Naver Pay operates Korea's largest e-commerce-linked payment platform serving Naver's merchant ecosystem. Comparable to Hecto as a Korean online payment gateway serving major e-commerce platforms; also listed as both partner and customer of Hecto's PG services.
• Samsung Pay (Samsung Electronics): Samsung Pay is Korea's leading mobile wallet and contactless payment platform. Hecto is a partner for Samsung kiosk payment hardware integration while competing on mobile/online payment acceptance layer.

Broad incumbents

• Adyen: Adyen is a global payment processing platform offering unified online, in-store, and platform payment solutions. Comparable to Hecto's enterprise PG and cross-border ambitions as a global, multi-method payment infrastructure provider.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC48klClY1M9ABFeyd4ufx3g
• LinkedInlinkedin.com/company/settlebank
• Instagramlinkedin.com/company/settlebank

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hecto Financial