Cross INF Completes Registration for Prepaid Electronic Payment Instrument Issuance and Management Business

FinTech startup Cross INF has completed registration with the Financial Services Commission for the issuance and management of prepaid electronic payment instruments, expanding its charging and payment services. Cross INF announced on the 13th that it has completed the registration for the issuance and management of prepaid electronic payment instruments with the Financial Services Commission, securing its status as an electronic financial services provider. This registration was conducted under the revised Electronic Financial Transactions Act. The revised law strengthened user protection requirements by mandating separate management of prepaid funds, among other measures. Cross INF plans to add charging and payment functions to its existing overseas money transfer service 'Cross' and online commerce platform 'CrossShop' as part of the prepaid business registration. The company aims to support financial activities of migrant foreigners based on a service structure that connects remittance, consumption, and payment. The company plans to develop personalized services using data accumulated during service use, expanding its business scope to a platform that integrates financial and lifestyle services. Shin Won-hee, CEO of Cross INF, stated, 'The journey of Cross INF, which began with remittances, is moving towards a stage that connects the entire daily life of migrant foreigners with this prepaid business registration.'