Toss, Interpark Triple, HYBE Unite to Fight Ticket Scalping

Seoul, South Korea—South Korean fintech firm Toss announced on Tuesday that it has signed a memorandum of understanding (MOU) with ticketing platform Interpark Triple and entertainment company HYBE to develop a facial recognition solution to prevent ticket scalping.

The partnership brings together leaders in fintech, ticketing, and entertainment to address illegal ticket resales and foster a healthier performance culture. 

The proposed system will use facial biometrics for venue entry verification, potentially eliminating automated ticket-buying programs and restricting attendance to original purchasers.

Toss, which operates mobile financial services, will lead the development and management of the facial recognition system. 

Based on its fintech expertise, the company aims to create a secure, convenient, and accurate identity verification process.

Seunggun Lee, CEO of Toss, emphasized the significance of cross-industry collaboration in tackling the social issue of unfair ticket resales.

Hwiyoung Choi, CEO of Interpark Triple, described facial recognition technology as a potential "game changer" in combating scalping.

HYBE's Chief Operating Officer Tae-Ho Kim expressed hope that the technology would streamline entry procedures and create a more enjoyable environment for global fans attending performances.