On the 28th of May, the global payment fin-tech company Payba announced the acquisition of Isaac Land Korea (ILK), a domestic PG/3DS company.
Payba is a fintech company that aims to build a global simple payment service.In order to vitalize the global payment services and build an ecosystem,
Payba has completed the acquisition of ILK, a domestic PG company specialized in cross border payment.
By using Payba's simple payment system, customers can make payments through mobile devices in various countries without additionally exchanging the currency.
Also, other PG companies can expand their retail stores in different countries by participating as a Payba membership.
Founded in 2002, ILK launched the first online credit card authentication service in Korea called Safe Click.
ILK has been providing the ACS/MPI of international standard 3DS, that is used for online overseas direct purchase or reverse direct purchase
to over 10 domestic credit card companies and VAN/PG companies by acquiring the certification from Visa, Mastercard and JCB for the first time in Korea.
Also, ILK is the only UnionPay 3DS service provider in Korea. Based on its excellent competitiveness in the 3DS field, such as acquiring the 3DS 2.0 certification,
the second-generation authentication service for the first time in Korea, ILK is currently expanding its business scope to the cross-border PG business.
Dae-yong Park, CEO of Payba (founder of Doobitnaraesoft) said, “As the time develops, we believe that the era of cross-border simple payments will come soon and therefore,
Payba's greatest aim is to build the global payment infrastructure for the near future..
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source : etnews (http://www.etnews.com)