Websites using Tosspayments

Okay, let s break down Toss Payments (formerly known as Payletter), a prominent South Korean payment gateway (PG).

Overview

Toss Payments is a leading South Korean payment gateway provider. It enables businesses to accept a wide range of online payments, including credit cards, bank transfers, mobile payments, and other popular local payment methods. It s especially crucial for businesses operating in or targeting the South Korean market.

Key Features and Services:

• Payment Gateway Integration: The core offering is integrating their PG into websites, mobile apps, and other online platforms.
• Diverse Payment Methods: Supports a wide array of payment options preferred by Korean consumers, including:
  • Credit/Debit Cards (Visa, Mastercard, American Express, local cards like BC Card, etc.)
  • Bank Transfers (Direct debit from bank accounts)
  • Mobile Payments (Toss Pay, Kakao Pay, Samsung Pay, Naver Pay)
  • Virtual Account Transfers
  • Gift Certificates/Vouchers
• Payment Page Customization: Offers options to customize the payment page to match the brand s look and feel.
• Fraud Detection and Prevention: Implements security measures to prevent fraudulent transactions.
• Recurring Billing: Supports setting up recurring payments for subscription-based services.
• Payment Links: Enables businesses to generate payment links to share with customers directly.
• SDKs and APIs: Provides Software Development Kits (SDKs) and Application Programming Interfaces (APIs) for developers to integrate Toss Payments into their applications.
• Reporting and Analytics: Offers reporting tools to track payment performance and gain insights.
• Customer Support: Provides customer support to assist businesses with integration and payment-related issues.
• Cross-border Payment solutions: Enables Korean businesses to accept international payments

Revenue

Toss Payments generates revenue primarily through:

• Transaction Fees: A percentage-based fee charged on each successful transaction processed through their gateway.
• Setup Fees: In some cases, there might be initial setup fees for integrating their services.
• Monthly/Annual Fees: Depending on the plan, there might be fixed monthly or annual fees.
• Value-Added Services: Charges for additional features or services, such as advanced fraud protection or dedicated support.

Alternatives

Several other payment gateways operate in the South Korean market. Key alternatives to Toss Payments include:

• KG Inicis: Another leading PG in South Korea with a wide range of payment options and a strong market presence.
• KCP (Korea Cyber Payment): A well-established player in the Korean payment processing landscape.
• U+ Payment (LG U+): A payment gateway offered by LG U+, a major telecommunications company in South Korea.
• Naver Pay: integrated payment platform by Naver, the dominant search engine in South Korea. Offers a large user base.
• Kakao Pay: integrated payment platform by Kakao, the company behind the popular KakaoTalk messaging app. Also boasts a massive user base.
• Eximbay: Specializes in cross-border payments, helping Korean merchants accept payments from international customers.
• PayPal: A global payment platform that is also available in South Korea. Good for businesses wanting international reach.
• Stripe: A global payment platform that is also available in South Korea. Known for its developer-friendly APIs and comprehensive features.

Choosing an alternative depends on factors like:

• Target audience: If you re focused solely on the Korean market, a local PG like KG Inicis, KCP, or U+ Payment might be preferred. If you want to reach international customers too, consider PayPal, Stripe or Eximbay.
• Specific payment methods: Ensure the PG supports the payment methods your customers prefer (e.g., specific mobile wallets).
• Integration ease: Consider the ease of integration with your platform (website, app, etc.). Developer-friendly APIs are important.
• Pricing: Compare transaction fees, setup fees, and other charges.
• Features: Evaluate the features offered, such as fraud protection, recurring billing, and reporting.
• Customer support: Assess the quality and responsiveness of customer support.

Pricing

Toss Payments pricing structure is typically based on a combination of factors:

• Transaction Fees: A percentage of each successful transaction. The percentage can vary depending on the payment method, transaction volume, and the specific agreement with Toss Payments.
• Setup Fees: There may be an initial setup fee to integrate the payment gateway. This is not always the case.
• Monthly/Annual Fees: Some plans may involve fixed monthly or annual fees, especially for access to advanced features or dedicated support.
• Volume Discounts: Businesses with high transaction volumes may be eligible for discounted transaction fees.

To get precise and up-to-date pricing information, it s best to:

• Visit the Toss Payments website (in Korean): The official website will have the most current pricing details. You might need to use a translation tool if you don t read Korean.
• Contact Toss Payments directly: Reach out to their sales team or customer support to request a customized quote based on your specific needs and transaction volume.

Customer Care Details

• Website: https://toss.tech/en/payments (English)
• Contact form: https://toss.tech/en/contact (English)
• Support channels: Toss Payments usually offers customer support through:
  • Email:
  • Phone:
  • Online Support Portal/Knowledge Base: A self-service resource with FAQs, documentation, and troubleshooting guides.
  • Live Chat: (May or may not be available)

Important Considerations for English Speakers/International Businesses:

• Language Barrier: While Toss Payments may have some English-language resources, their primary focus is the Korean market. Communication and documentation might be primarily in Korean.
• Local Regulations: Be aware of South Korean regulations related to online payments, data privacy, and consumer protection.
• Currency: While they now offer cross-border payment solutions, understanding currency conversion and settlement processes is crucial.
• Support Hours: Confirm the support hours and whether support is available in English if needed.

I hope this comprehensive overview is helpful! Remember to do your research and compare different options before choosing the best payment gateway for your business.