Seoul, South Korea—Toss Place, a subsidiary of South Korean fintech giant Viva Republica (Toss) that provides payment solutions, announced Monday that its payment terminals have been deployed in over 30,000 merchant locations.
This milestone comes just one year after the company launched its "Toss Device" hardware, which is utilized under the “Toss Terminal/Toss Front” and "Toss POS" software, in March last year.
The company has been onboarding over 2,500 new merchants monthly, averaging 3,675 over the past six months.
This represents approximately 10.2% of the estimated 36,000 new merchants entering the market each month.
Last year, Toss Place terminals processed more than 42 million transactions, totaling more than KRW 10.5 trillion (US$ 7.8 billion).
Restaurants, coffee shops, and beauty salons comprise most of the 30,000 merchants who use Toss Place terminals.
The company attributes its explosive growth to the dozen value-added services it offers to help merchants improve their operations.
This year, the company plans to diversify its all-in-one solutions further to meet the specific needs of each industry.
