Settlebank
Hecto Financial (KOSDAQ 234340, formerly Settlebank) is a Seoul-headquartered Korean fintech operating an integrated payment and banking platform — PG, virtual accounts, prepaid cards, and public-sector digitization — for Korean e-commerce merchants, B2B financial institutions, inbound tourists, and municipal governments.
- Company typePublic
- Founded2009
- HeadquartersSeocho, South Korea
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Settlebank does
Hecto Financial Co., Ltd. (KOSDAQ 234340, formerly Settlebank) is a Seoul-headquartered, publicly listed Korean fintech that has operated integrated electronic payment and banking services for 17 years. The company delivers a comprehensive domestic payment stack spanning online and offline payment gateway (PG), virtual accounts and firm banking (펌뱅킹), the proprietary 내통장결제 (NMTJ / My Account Payment) cash settlement service, 안전선불 (Safe Prepaid) card issuance, and RoundPay consumer money/points. These rails are sold primarily through B2B integrations with virtually every major Korean e-commerce and commerce platform — KakaoPay, Naver, Coupang, Gmarket, 11st, SSG.com, GS SHOP, Baemin, Payco, Lpay, and CGV — plus a dedicated developer center, merchant admin portal, and direct enterprise hotlines.
Revenue is generated almost entirely through transaction-based fees across six streams: PG processing, virtual accounts and firm banking, prepaid/wallet services, cross-border/overseas settlement (including a small-amount overseas remittance license and eFX functionality), public-sector digitized payment solutions (deployed at Paju City for waste-disposal payment), and value-added financial services such as advertising and mobile gift vouchers. The 2025 consolidated revenue mix shows internal-driven growth, with the high-margin NMTJ service expanding 26.4% YoY and PG expanding 15.5% YoY.
The strategic frontier is a stablecoin- and blockchain-native settlement layer built around an exclusive domestic seat in Circle's Circle Payments Network (CPN) — a global network of ~20-30 Tier-1 financial institutions enabling USDC/EURC cross-border settlement — and the only Korean participation in Circle's Arc public testnet across the payment ecosystem and wallet tracks. Group subsidiary Hecto Wallet One provides in-house digital asset wallet infrastructure. Operational extensions include Moripay prepaid cards for inbound Japanese tourists (via exclusive partnership with K&2P leveraging Kanagawa's 1M+ annual eSIM sales), a stablecoin-based auto-disbursement PoC for AI agent earnings with Saltlux US's Goober, a Resource Circulation Integrated Management System for municipal governments, and a Japan regional headquarters in Tokyo established July 2025. The company reports FY2025 consolidated revenue of 1,874 billion KRW (~USD 1.4B) and operating profit of 156 billion KRW — both all-time highs.
Settlebank firmographics
Firmographics- Name
- Settlebank
- Legal name
- Hecto Financial Co., Ltd. (주)헥토파이낸셜
- Website
- https://settlebank.kr
- Company type
- Public
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Hecto Financial (KOSDAQ 234340, formerly Settlebank) is a Seoul-headquartered Korean fintech operating an integrated payment and banking platform — PG, virtual accounts, prepaid cards, and public-sector digitization — for Korean e-commerce merchants, B2B financial institutions, inbound tourists, and municipal governments.
- Ownership category
- akta.pro rank
Settlebank industry classification
Industry- Product category
- Payment Processing & Financial Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Crypto Payment Gateways & Checkout APIs (FSADAIAA), Card-Based Cross-Border Payments & FX Settlement (FSAMAIAD)
Keywords
Where Settlebank is headquartered
LocationHeadquarters
- HQ city
- Seocho
- HQ country
- South Korea
- HQ region
- Asia
Offices2 records
Markets served
Settlebank business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Payment Processing (PG / 간편현금결제): Online and offline payment gateway services charging transaction-based fees. Online PG covers credit card and mobile payments; offline PG covers kiosk terminals. 내통장결제 (NMTJ) is a high-margin proprietary membership-based service that grew 26.4% YoY in 2025.
- Virtual Account / Firm Banking Services: Virtual account issuance and fund management account services for merchants and businesses, generating recurring transaction volume and settlement fees. Includes 펌뱅킹 (automated transfer banking) and 010 virtual account services.
- Prepaid Card & Wallet Services: 安심선불 (Safe Prepaid) card issuance and management for consumers, including prepaid money loading and RoundPay branded solutions (money and points). International tourists via Moripay (Japan partnership) represent a new prepaid revenue stream.
- Cross-border / Overseas Settlement Services: Stablecoin-based global settlement via Circle CPN (USDC), supplemented by small-amount offshore remittance license and eFX integration. Emerging revenue stream with planned 2026 commercial launch targeting corporate B2B clients.
- Public Sector Payment Solutions: Digitized municipal payment infrastructure (e.g., Paju City waste disposal) providing photo-certification-based payment and settlement services. Targets broader national digital transformation of public cash payment collections (~1.32 trillion KRW annual municipal waste fees).
- Value-Added Financial Services: Includes advertising, mobile gift vouchers (모바일상품권), and additional financial services bundled with core payment infrastructure.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Payment Gateway (Online/Offline PG) — transaction-based fee per processed payment |
| Transaction based/ take rate | Monthly | 간편현금결제 (내통장결제/NMTJ) — membership-based high-margin service |
| Transaction based/ take rate | Pay-as-you-go | Stablecoin / CPN Cross-border Settlement — enterprise B2B pricing |
| Transaction based/ take rate | Pay-as-you-go | Prepaid / Moripay — tourist prepaid card issuance |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels6 records
Settlebank product offering
Product offeringCore offering
Settlebank operates an integrated electronic financial payment platform providing online and offline payment gateway (PG) services, virtual account issuance, 펌뱅킹 (firm banking), 안심선불 (Safe Prepaid) card services, and 라운드페이 (RoundPay) consumer payment products for merchants and platforms. The platform also enables stablecoin-based cross-border settlement via Circle Payments Network (CPN) and the Arc public testnet, prepaid tourist cards through Moripay, and digitized public sector payment infrastructure for municipal governments.
Product overview
Settlebank (Hecto Financial) operates as a comprehensive fintech platform offering integrated banking and payment services. The core portfolio includes banking services (virtual accounts, fund transfers, simple cash payments), payment processing (online PG, offline PG, kiosks), 내통장결제 (direct account payments), 안심선불 (safe prepaid), 라운드페이 (RoundPay simplified payments), and white-label solutions. Strategic platforms include Circle Payments Network (CPN) for stablecoin-based cross-border settlement, and AI agent payment infrastructure. Public sector offerings include the Resource Circulation Integrated Management System, while consumer-facing tourist services include Moripay prepaid cards. The company also provides overseas remittance services through its small-sum overseas remittance license.
Differentiator
Problem solved
Functional benefit
Products and services
- Banking Services (뱅킹서비스) Account-based services optimizing collection and payment operations for businesses, including virtual accounts, 010 virtual accounts, fund transfers, simple cash payments (내통장결제), and financial supplementary services. Targeted at merchants, e-commerce platforms, and enterprises requiring recurring transaction volume and settlement.
- Payment Services (결제서비스) Comprehensive payment processing covering all domestic payment methods including credit cards, mobile payments, and gift cards. Includes online PG, offline PG (kiosk terminals), and merchant integration with major Korean e-commerce platforms (KakaoPay, Naver, Coupang, Baemin, etc.).
- 내통장결제 (My Account Payment / NMTJ) One-step cash payment solution integrating all domestic payment methods (credit card, virtual account, simple cash settlement) without requiring app installation or membership. Phone-based self-authentication enables instant onboarding. Membership-based high-margin proprietary service growing 26.4% YoY in 2025.
- 안심선불서비스 (Safe Prepaid Service) Prepaid card service providing a unified experience from charging to payment. Offers secure prepaid payment infrastructure for consumers, supporting both domestic use and inbound tourist prepaid distribution via the Moripay partnership.
- 라운드페이 (RoundPay) Simplified payment solution for daily life including RoundPay Money and RoundPay Points. Consumer-facing prepaid and loyalty payment service designed for everyday retail and online merchant use cases.
- White Label (화이트라벨) Customizable payment and financial service infrastructure allowing partners to create their own branded payment services using Settlebank's underlying technology stack (PG, virtual accounts, prepaid, loyalty). Targeted at partners seeking to launch payment services without building infrastructure.
- Circle Payments Network (CPN) Cross-Border Settlement Stablecoin-based global cross-border payment infrastructure partnership with Circle. Only domestic CPN partner in Korea, enabling USDC/EURC automated settlement through blockchain-based compliance. Connected to approximately 20-30 global Tier-1 financial institutions for enterprise B2B cross-border settlement.
- Moripay (모리페이) Prepaid Tourist Payment Service Prepaid payment service for inbound tourists visiting Korea. Launched in partnership with K&2P (operator of Moripay), targeting Japanese tourists via eSIM pre-marketing and planned expansion to Taiwan, Vietnam, and Thailand under an Asia Integrated Payment Belt strategy.
- Resource Circulation Integrated Management System Cloud-based waste disposal management system covering reporting, payment, and collection management. Supplied to Paju City government (April 2026), enabling photo certification for large waste disposal without sticker-based system. Roadmap includes AI-based waste type recognition and automatic cost calculation.
- Stablecoin AI Agent Payment Infrastructure Global settlement infrastructure based on stablecoins (USDC) for cross-border payments, AI agent payments, and overseas remittance. Includes Circle Arc public testnet participation and digital asset wallet services through Hecto Wallet One subsidiary. First-in-kind AI agent earnings settlement in stablecoin form for the emerging M2M (Machine-to-Machine) payment economy.
Quantifiable outcome
- 2025 consolidated revenue of 1,874B KRW (+17.7% YoY), operating profit of 156B KRW (+17.2% YoY), both all-time highs
- +4 more outcomes
Companies that use Settlebank
Customer profileNamed customers13 records
Segments4 records
Ideal customer profiles4 records
Settlebank technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature6 records
Settlebank partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered flagship, core and minor.
- K&2P (케이앤투피) / Moripay (모리페이)flagshipExclusive distribution partnership for Moripay prepaid card targeting inbound Japanese tourists. K&2P's parent company Kanagawa sells 1M+ eSIMs annually in Japan. Hecto Financial operates the entire prepaid infrastructure — domestic charging, issuance, management, and settlement — enabling tourists to pre-load payment methods before arriving in Korea. Moripay service officially launched March 31, 2026 ahead of the summer travel season.
- Circle (USDC issuer)coreHecto Financial is the domestic-only Korean partner in Circle's Circle Payments Network (CPN), enabling USDC/EURC-based automated cross-border settlement for B2B clients. Additionally, Hecto Financial and Hecto Innovation are the only Korean companies participating in Circle's Arc public testnet — Hecto Financial in the payment ecosystem track and Hecto Innovation in the wallet track. This positions Hecto Financial for USDC minting capabilities on Arc mainnet upon regulatory clearance. The partnership was reinforced by an in-person luncheon between Hecto Financial CEO Choi Jong-won and Circle CEO Jeremy Allaire in April 2026.
- Goober (Goover) — Saltlux US subsidiaryflagshipAI agent service provider. Hecto Financial is building a stablecoin-based auto-disbursement infrastructure for Goober users — AI earnings (from content creation on Goober) are calculated in USD, converted to USDC, and auto-deposited to user wallets via Hecto Wallet One. This PoC represents the first-in-kind implementation of AI agent earnings settlement in stablecoin form, targeting the emerging M2M (Machine-to-Machine) payment economy.
- Hecto Wallet One (헥토월렛원)coreBlockchain wallet infrastructure subsidiary of Hecto Group. Provides digital asset wallet creation and management services supporting the AI agent USDC auto-disbursement system. Together with Hecto Financial's payment rails and Circle CPN infrastructure, Hecto Wallet One completes the stablecoin payment ecosystem — enabling end-to-end digital asset wallet services from issuance to settlement.
- TripleA (Singapore)coreStrategic collaboration with Singapore-based stablecoin payment company TripleA to expand and reinforce the global stablecoin payment ecosystem partner network. Builds on the existing Circle CPN and Arc partnership to broaden cross-border stablecoin payment reach in Southeast Asia.
- KakaoPayminorKakaoPay integrated as a payment method on Hecto Financial's PG platform, alongside other major Korean e-commerce platforms (Payco, Lpay, Naver, Gmarket, Auction, Coupang, 11st, SSG, GS SHOP, CGV, Baemin).
- PaycominorPayco integrated as a payment method on Hecto Financial's PG platform.
- NaverminorNaver integrated as a payment method on Hecto Financial's PG platform.
- CoupangminorCoupang integrated as a payment method on Hecto Financial's PG platform.
- Gmarket / AuctionminorGmarket and Auction (eBay Korea) integrated as payment methods on Hecto Financial's PG platform.
- 11번가 (11st)minor11st integrated as a payment method on Hecto Financial's PG platform.
- 신세계닷컴 (SSG.com) / GS SHOPminorSSG.com and GS SHOP integrated as payment methods on Hecto Financial's PG platform.
- CGVminorCGV integrated as a payment method on Hecto Financial's PG platform.
- 배달의민족 (Baemin)minorBaemin integrated as a payment method on Hecto Financial's PG platform.
- L.Pay (엘페이)minorL.Pay integrated as a payment method on Hecto Financial's PG platform.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Settlebank competitors and assessment
Company assessmentBroad incumbents
- Adyen: Global omnichannel payment platform serving enterprise merchants with unified online, in-store and platform payments. Relevant comparable for Hecto Financial's emerging cross-border settlement ambitions and unified PG architecture.
- Stripe: Global internet payment infrastructure provider powering online and cross-border commerce. Comparable on developer-first API design, developer center go-to-market, and broad payment method coverage relevant to CPN-enabled B2B flows.
Direct peers
- Samsung Pay: Mobile and online payment service operated by Samsung Electronics. Competes in both consumer wallet and online PG across Korean merchants, overlapping with Hecto Financial's prepaid, mobile and merchant-facing offerings.
- KakaoPay: Korea's largest mobile payment and online payment gateway platform, serving the same merchant base across e-commerce, mobility and digital content. KakaoPay is both a competitor in PG and a distribution partner embedded on Hecto Financial's payment rail.
- Toss Payments (Viva Republica): Leading Korean consumer fintech with a rapidly growing merchant payment gateway. Competes directly for SMB and online merchant share, and has been expanding into cross-border and business banking features adjacent to Hecto Financial's stack.
- NHN (NHN Pay / NHN KCP): Long-standing Korean online payment gateway provider serving merchants with credit card, mobile and account-based payment processing. Closest legacy-direct competitor in PG market share.
- Naver Pay (Naver Financial): Embedded payment solution within Naver's e-commerce ecosystem (Smartstore, Naver Shopping). Competes directly in Korean online PG while also being an integration partner for Hecto Financial.
Others
- Circle: USDC issuer and operator of Circle Payments Network and Arc blockchain. Functions as Hecto Financial's core infrastructure partner for stablecoin settlement, making Circle the most relevant ecosystem/dependency comparable despite not being a direct competitor.
Emerging players
- TripleA: Singapore-based stablecoin payment gateway licensed by MAS. Already a strategic collaborator with Hecto Financial for Southeast Asian stablecoin reach, making it a closely comparable emerging player in crypto payment acceptance.
Regional players
- Wise: Cross-border money transfer and multi-currency account platform. Comparable as a reference point for Hecto Financial's offshore remittance license + eFX + stablecoin cross-border settlement stack, though operating primarily outside Korea.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Settlebank social profiles
Digital presenceSettlebank compliance and trust
Trust signalCompliance2 records
Settlebank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Settlebank leadership team
Management profileNumber of profiles
Profiles1 record
Settlebank subsidiaries and ownership
Company hierarchySubsidiaries7 records
Settlebank funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Settlebank M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Settlebank
What does Settlebank do?
Settlebank operates an integrated electronic financial payment platform providing online and offline payment gateway (PG) services, virtual account issuance, 펌뱅킹 (firm banking), 안심선불 (Safe Prepaid) card services, and 라운드페이 (RoundPay) consumer payment products for merchants and platforms. The platform also enables stablecoin-based cross-border settlement via Circle Payments Network (CPN) and the Arc public testnet, prepaid tourist cards through Moripay, and digitized public sector payment infrastructure for municipal governments.
Is Settlebank a public or private company?
Settlebank is a public company. It is classified as public and is currently operating.
When was Settlebank founded?
Settlebank was founded in 2009. It employs 1 to 10 people.
Where is Settlebank based?
Settlebank is headquartered in Seocho, South Korea, in the Asia region.
How does Settlebank make money?
Six revenue lines are on record. Payment Processing (PG / 간편현금결제) is the primary driver. The others are virtual Account / Firm Banking Services, prepaid Card & Wallet Services, cross-border / Overseas Settlement Services, public Sector Payment Solutions and value-Added Financial Services.
Who are Settlebank's main competitors?
Broad incumbents on record are Adyen and Stripe. Direct peers are Samsung Pay, KakaoPay, Toss Payments (Viva Republica), NHN (NHN Pay / NHN KCP) and Naver Pay (Naver Financial). Circle is listed as an others. TripleA is listed as an emerging player. Wise is listed as a regional player.
Does Settlebank have an API?
No public API is recorded for Settlebank.
What industry is Settlebank in?
Settlebank's product category is Payment Processing & Financial Infrastructure. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of BPAMAFAL, Crypto Payments & Stablecoin Settlement Platforms. Its NAICS code is 522320 and its SIC code is 6199.