Korean B2B Marketplace launching online payment system - KOPS(KOTRA Online Payment Service)-
August 27, 2007
Korean primary B2B e-trade portal www.byukorea.org starts online payment service (KOPS: KOTRA Online Payment Service). KOPS is the first beginning service in the world.
KOPS is an easy–to-use, secure online payment settlement service that Whenever enables buyers to make payment for their orders with a credit card(visa, MasterCArd, JCB) without going through the hassle of offline T/T transactions. When buyers use KOPS they can trade with trustworthy and Good seller providing by KOTRA(Korea Trade-Investment Promotion Agency)
KOPS is to make the payment settlement process easier for buyers. Also KOPS is to eliminate unnecessary disputes over buyer¡¯s insistence on receiving the first and making the payment later. KOPS gives benefits to buyer that guarantees secure delivery of the ordered product to the customer prior to make payment, saves precious time and effort by alleviating the need to visit a bank in person, allows user to avoid transaction costs while earning user mileage on the credit card, exempts user from paying conventional wire transfer fees, and enables user to utilize account credit to extend payment term by 30 days.
Also exporter¡¯s benefits is that able to receive export earnings securely and quickly (within 5 business days), Reasonable service fee(2.5%)
KOPS can give more easy and trustworthy trade to buyer and seller both of them. Also this system and services can be B2B e-trade portal¡¯s good models in the world.

Media Contact: Austin Hwang
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82-2-3454-1513
About the Press Release
Korean B2B Marketplace launching online payment system - KOPS(KOTRA Online Payment Service)-


 
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