Hanpass records 460 billion won in foreign-exchange transactions in October, annualized at 5.5 trillion won

[Financial News] Hanpass, an everyday financial services platform for foreigners, recorded 460 billion won in foreign-exchange transactions last month. Annualized, that amounts to about 5.5 trillion won.
According to financial investment industry sources on the 3rd, Hanpass had 1.72 million cumulative subscribers as of the end of last month, with 640,000 monthly active members (MAU). Monthly payment users (MAPU) totaled 257,000, and the number of remittance transactions reached 640,000. Compared with the beginning of the year, monthly transaction volume rose 78.3% and MAU increased 52.4%.
In addition to overseas remittances, Hanpass offers services such as loan comparisons, taxi booking, public transportation ticketing, job search and recruitment, and food-ingredient purchases. It supports about 20 languages for foreigners residing in Korea and is expanding its business in everyday financial services.
Last month, Hanpass was selected as a partner for KakaoBank Corp's launch of financial services for foreigners. The two companies plan to improve foreign users' access to financial services and expand the scope of related services.
A Hanpass representative said, "This achievement shows that our strategy of diversifying services and focusing growth on transaction volume is producing results in the market," adding, "We will expand our business into a comprehensive everyday financial platform that serves the financial and daily lives of foreigners residing in Korea."
Meanwhile, Hanpass previously estimated its share of Korea's overseas remittance market at about 22% in September.

[email protected] Im Sang-hyeok Reporter