my timesThe Korea Times
  1. Business
  2. Banking & Finance

Toss sees 30% growth in non-Korean users, driven by user-friendly services

Listen
By Lee Yeon-woo
  • Published KST
A promotional image of Toss / Courtesy of Toss

A promotional image of Toss / Courtesy of Toss

Toss recorded a total of 460,000 non-Korean users in the first half of this year, marking a 30 percent increase from the same period last year, the company said Tuesday.

The figure represents roughly 17 percent of Korea's 2.65 million foreign residents.

Users from 178 countries, including the U.S., China and Vietnam, have begun managing their finances through Toss. Vietnam saw the highest growth in new users, with an 85 percent year-over-year increase.

Toss attributes the growth to several key improvements: a user-friendly identity verification system, increased accessibility to financial services for non-Korean users and expansion of English-language support.

In Korea, most authentication systems are designed primarily for Korean nationals and often feature only superficial English translations. This has created significant inconvenience for foreign users, especially those from Middle Eastern or Spanish-speaking countries with longer name structures.

Toss said any nationality can complete identity verification smoothly on its platform.

A promotional image of Toss / Courtesy of Toss

A promotional image of Toss / Courtesy of Toss

Providing foreign nationals with the same financial services as Korean users has been a major driver of growth. Foreign users of Toss can access a wide range of offerings, including money transfers, debit cards, hospital bill reimbursements and app-based rewards.

In June, the company also officially launched full English-language support across its platform, following a five-month beta test. More than 100 services in the Toss app are now available in English.

Read More

"In the first half of the year, we actively raised brand awareness among foreign users through various initiatives, including exclusive events and the launch of a dedicated international remittance service," a Toss official said. "We plan to further expand multilingual support in the third quarter as we continue to evolve into a more foreigner-friendly financial platform."