Toss, 11st Partner to Enhance Digital Payments in South Korean eCommerce

Seoul, South Korea - South Korean fintech company Viva Republica, the company behind Toss and e-commerce platform 11st, announced a strategic partnership to strengthen online payments and customer benefits, the companies said on Wednesday.

The partnership, which takes effect on November 1, will enable Toss Pay as a payment option on 11st's platform, coinciding with the e-commerce site's largest annual shopping event, Grand 11.11 Sale.

Under the agreement, signed by Viva Republica CEO Seunggun Lee and 11st CEO Jungeun Ahn at Toss headquarters in Seoul's Gangnam district, the companies will collaborate across multiple sectors, including advertising and authentication services.

The partnership includes exclusive deals for Toss Pay users during the Grand 11.11 Sale. 

Customers earn Toss Points on purchases made through the platform, which they can use as cash for future Toss Pay transactions.

The companies said they plan to expand their collaboration into other areas to enhance customer experience and payment convenience.