▲ Kim Yang-su, Chairman of 2DM

2DM is an IT company specialized in Fin-tech. It recently introduced a new concept simple payment ‘2DPAY’. 2DPAY is loaded with three options: 1) call-out 2) call-out and order 3) call-out and order and payment. The first one, for example, enables a customer to call a staff of store after seeing the menu. The second one places an order and the third one a payment. In other words, the store does not need a POS and we do not need to line up for our turn to pay in front of a certain payment terminal. “As a result, the store owners can save labor cost of a staff at the counter while we do not need to waste our time since the payment is simple and fast. In addition, 2DPAY lets you send a simple message of your needs and wants to a staff. In terms of safety, 2DPAY fundamentally blocks off information replication of the magnetic card so you can use it without a worry” explains Chairman Kim Yang-su of 2DM. According to <Trend Korea 2018> of the Consumer Trend Analysis Center led by Seoul National University professor Kim Nan-do, ‘un-tact’ will be one of the top 10 consumer trends this year in Korea. ‘Un-tact’ is interpreted as a tendency of the increasing number of people today who do not want to make ‘contact’ with others whether buying necessities or paying the bills. Chairman Kim explains “Un-tact doesn’t necessarily mean a cut off from others but ‘minimizing’ the unnecessary or uncomfortable contact. The drone delivery of Amazon, the smart order of coffee shops and the manless kiosk of fast food restaurants are good examples.” He continues “The innovation of 2DPAY is that it contains the functions of both smart order and kiosk. It operates on web and app so the business owners do not need a certain type of ordering or payment terminal. In a word, 2DAPY is a versatile payment solution in this age of the 4th Industrial Revolution.” Currently, 2DM is working on technologies of combining 2DPAY platform and kiosk in cooperation with a major company in Korea while already obtained patents for NFC Tech Touch and QR Code Scan System. Chairman Kim is ambitious to expand this innovative 2DPAY service to various commercial places from food courts and cafes to beauty shops, fitness clubs, amusement parks and traditional markets and more through its 21 regional headquarters and 187 branches nationwide. As part of this effort, Kim already has signed a number of partnerships and MOUs with related businesses home and abroad including global POS manufacturers. “China undoubtedly is one of the most popular countries for Fin-Tech. The market is valued around KRW 497 trillion won and probably ranked No.2 after the US. Korea is often praised for being the powerhouse of IT but the title comes to shame when it comes to Fin-Tech. We must note that the global trend is moving fast to fast and simple payment and 2DPAY, in this respect, will take the initiative.” 

<Power Korea> ‘rewrites’ Korean article in ‘plain English’ with ‘key points’ 
Jon Kim powerkorea_j@naver.com