Toss Place Chief Operating Officer Kim Jeong-yeol (Toss)
Toss Place Chief Operating Officer Kim Jeong-yeol (Toss)

Toss Place, the payment terminal unit of Korean mobile financial platform Toss, appointed Kim Jeong-yeol, a seasoned Tmoney executive, as chief operating officer on Monday.

Kim, who possesses over 20 years of expertise in electronic financial services, previously led Tmoney’s payments division and marketing efforts.

His extensive background includes leading major initiatives such as integrating Tmoney into Seoul’s monthly transportation pass and making the prepaid Tmoney transit card available on the iPhone, demonstrating his expertise in developing innovative business strategies and payment infrastructure for public transportation.

“Toss Place aims to further strengthen its business growth by leveraging the expertise and extensive experience of Kim in the payments industry. We will actively support partners ... while also expanding external collaborations,” Toss Place said in a statement.

In his new role, Kim will oversee critical areas including business enhancement and partner ecosystem development.

This appointment marks the establishment of strengthened dual C-level leadership alongside CEO Choi Jae-ho, with a focus on boosting sales and cultivating new business opportunities.

Kim also noted Toss Place’s goal to transform from simply providing terminals into becoming a “chief partner” for merchants, leveraging trusted collaborations to foster new ventures.

Toss Place is anticipated to undergo significant transformation following its recent launch of Face Pay, which enables users to make payments at stores simply by looking at a terminal, aimed at capturing the offline market.

The company aims to convert its 30 million Toss app users into face payment customers, with several million expected to become active users by the end of the year.

Toss Place will be responsible for deploying the hardware required to support this new service, playing a crucial role in scaling the technology and integrating it with offline merchants.


hnpark@heraldcorp.com