JRF

What JRF does

JRF (Japan Remit Finance Co., Ltd.), operating through JRF Korea Co., Ltd., is a Seoul-headquartered cross-border remittance fintech focused on enabling international money transfers from South Korea to 14+ Asian countries, including Bangladesh, Cambodia, China, India, Indonesia, Japan, Malaysia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Thailand, and Vietnam. The company primarily serves migrant workers in Korea who send earnings to family members in their home countries, with a secondary segment of Korean nationals transferring funds overseas. It holds Overseas Remittance License No. 2020-1 issued by Korea's Ministry of Economy and Finance, with FATF-restricted corridors (North Korea, Iran, Myanmar) excluded.

The core product is the JRF Mobile Application (iOS/Android), which provides two payment rails — an auto-debit system that automatically draws funds from a registered Korean bank account upon user request, and a virtual account system for manual one-window transfers — and supports multiple payout methods (bank deposit, cash payout, ATM) in destination countries. The platform integrates with Korean banking infrastructure through KFTC (Korea Financial Telecommunications & Clearings Institute) and routes disbursements through partner banks in destination countries such as ACB, BDO, BOC, BRI, Kotak, and Unionbank. Complementing the core app, JRF offers a prepaid payment ecosystem through Korea Prepaid Card Co., Ltd. (a jointly-controlled subsidiary), comprising JRF Money (prepaid electronic payment instrument with 5-year balance validity) and JRF Card (physical IC chip card) usable at affiliated Korean merchants.

JRF generates revenue primarily from per-transaction fees (varying by destination country) and the spread between retail and wholesale foreign exchange rates, with additional revenue from card issuance, charging, and merchant payment fees through JRF Wallet. The go-to-market blends a mobile-app-first, product-led registration flow with community-led engagement via country-specific Facebook pages targeting each migrant community, supplemented by three physical branches (Seoul headquarters in Gangnam-gu, Ansan, Gimhae) for in-person registration. JRF claims 8+ years in the financial market and 100,000+ cumulative customers served, with per-transaction and annual caps of USD 5,000 and USD 50,000 respectively under Korean foreign-exchange regulation.

Name

JRF

Legal name

Japan Remit Finance Co., Ltd.

Website

https://jpremit.co.kr

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

JRF (Japan Remit Finance) is a Seoul-based remittance fintech that enables cross-border money transfers from South Korea to 14+ Asian countries via a mobile app, primarily serving migrant workers and Korean nationals sending funds to overseas family.

Ownership category

akta.pro rank

Product category

International Remittance Services

SIC

Finance Services (6199)

akta.pro primary industry

Consumer Remittances (P2P) (FSAMAIAA)

akta.pro secondary industries

Consumer P2P International Remittances (FSAGAKAA), International / Multi-Currency Wallets (FSAMAEAL)

Keywords

• International money remittance
• Cross-border payments
• Currency exchange services
• Mobile remittance app
• Prepaid payment solutions

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Transaction Fees: Fees charged per international remittance transaction, varying by destination country. Disclosed as separate components including exchange fees, remittance fees, and fees payable to foreign partner institutions.
2. Exchange Rate Spread: Revenue generated from the difference between the exchange rate offered to customers and the rate at which JRF transacts with partner institutions.
3. JRF Prepaid Brand Pay: Prepaid card and wallet service where Korea Prepaid Card Co., Ltd. issues JRF Money and JRF Card. Revenue from charging, issuance fees, and payment transactions at affiliated merchants.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

JRF provides international money remittance services from South Korea to 14+ Asian countries via a mobile app, supporting both auto-debit and virtual account funding, with bank deposit, cash payout, and ATM delivery methods. The company also offers a prepaid electronic payment service (JRF Money and JRF Card) issued by Korea Prepaid Card Co., Ltd. for transactions at affiliated merchants in Korea. Services operate under Korean Overseas Remittance License No. 2020-1.

Product overview

JRF (Japan Remit Finance) is a Global Remittance Fintech company offering three main product lines: (1) JRF Mobile Application as the core remittance platform enabling international money transfers from Korea to 14+ Asian countries with real-time exchange rates; (2) JRF Prepaid Brand Pay (JRF Wallet) as an e-payment solution comprising JRF Money (prepaid electronic payment instruments) and JRF Card (physical IC chip payment card); and (3) country-specific remittance services to Bangladesh, Cambodia, China, India, Indonesia, Japan, Malaysia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Thailand, and Vietnam. The company operates under Overseas Remittance License No. 2020-1 from Korea's Ministry of Economy and Finance.

Differentiator

Problem solved

Functional benefit

Brands

• JRF Prepaid Brand Pay: Prepaid electronic payment service including JRF Money and JRF Card for transactions at affiliated merchants
• JRF Wallet

Products and services

• JRF Mobile Application Cross-platform mobile application (iOS/Android) serving as the primary channel for JRF's international remittance services from Korea to 14+ Asian countries. Provides real-time exchange rates, auto-debit and virtual account funding options, multi-language customer registration (Korean, English, Nepali, Sinhala, Vietnamese, Bangla, Filipino, Urdu and others), bank account linking, and transaction history.
• JRF Remittance Service International money transfer service allowing customers in Korea to send funds to Bangladesh, Cambodia, China, India, Indonesia, Japan, Malaysia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Thailand, and Vietnam. Supports bank deposit and cash payout delivery methods through partner institutions, with per-transaction limits of USD 5,000 and annual limits of USD 50,000 per sender under Korean foreign exchange regulations.
• JRF Prepaid Brand Pay (JRF Wallet) Prepaid electronic payment service comprising JRF Money (prepaid electronic payment instruments that can be charged via bank account, bonus points, or gift codes) and JRF Card (physical IC chip card linked to JRF Money balance for payments at affiliated merchants in Korea). The service is operated by Korea Prepaid Card Co., Ltd. and supports merchant payment transactions at partner retailers in Korea.

Quantifiable outcome

• 100,000+ customers served
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Korea Prepaid Card Co., Ltd.coreTechnology or IntegrationKorea Prepaid Card Co., Ltd. (Business Registration Number: 206-86-54302) issues JRF Money and JRF Card for the JRF Prepaid Brand Pay service. Provides prepaid electronic payment instrument issuance, charging, and payment services at affiliated merchants.
• KFTC (Korea Financial Telecommunications & Clearings Institute)coreTechnology or IntegrationKFTC handles wire transfers and electronic money transfers for JRF. JRF provides user tokens, user update tokens, user numbers, and Fintech user numbers to KFTC for transaction processing.
• Bank Partner InstitutionscoreChannel Partner/ Reseller/ DistributorMultiple bank partners enable fund disbursement and receipt. Partner banks include ACB, BDO, BOC, BRI, Donga Bank, Kotak, Unionbank, and others for deposit and payout services across destination countries.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Wise (formerly TransferWise): Wise is a global cross-border payments fintech operating across 70+ countries with multi-currency accounts. Although not Korea-licensed like JRF, it competes for Korean-outbound remittance customers through its app and pressures corridor pricing industry-wide.
• Remitly: Remitly is a global digital remittance company focused on migrants sending money from developed markets to emerging markets. It overlaps with JRF's migrant-worker value proposition and several Asian destination corridors.
• Western Union: Western Union is the largest global money-transfer operator with broad Korea-to-Asia corridor coverage. It is the established incumbent against which JRF and other Korean fintech remittance providers compete on price, speed, and convenience.

Direct peers

• WireBarley: WireBarley is a Korea-based cross-border remittance fintech serving migrant senders across Asia and beyond. It competes directly with JRF in Korea-to-Asia corridors and offers a comparable mobile-first remittance product.
• Sentbe: Sentbe is a Korean cross-border remittance fintech offering mobile-app-based transfers from Korea to multiple Asian countries. It directly overlaps with JRF in target customers (Korean migrants), corridors, and product (app-led remittance with FX).
• Hanpass: Hanpass is a Korean-licensed remittance company providing online and offline money transfer services from Korea to Asian corridors. It competes head-to-head with JRF for migrant workers and operates a similar branch-plus-app distribution model.
• Wow Exchange: Wow Exchange is a Korean money-transfer and FX service targeting migrant workers and foreign residents. It competes directly with JRF on Korea-outbound remittance corridors and on FX/spread economics.
• CrossBill Pay: CrossBill is a Korean remittance company focused on cross-border transfers from Korea to Asian countries. It directly overlaps with JRF in licensed small-amount remittance, target migrant customer base, and mobile channels.
• BZW Remit: BZW Remit is a Korea-based overseas remittance operator serving migrant workers with transfers to South/Southeast Asian corridors. It is comparable to JRF in license type, customer persona, and corridor coverage.

Regional players

• GME (Global Money Express): GME is a Korean remittance operator focused on Korea-to-South Asian and Southeast Asian corridors. It appears as a JRF payout-partner on the JRF website and competes directly for the same migrant-worker segment.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/jrf.kr

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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 JRF