Korea’s global FX total solutions provider ‘SentBe’ has launched the API-based B2B payment solution ‘SentBiz KRW Collection’ to support seamless international business payments for global companies.
Companies operating outside of Korea needing to collect Korean Won and settle multi-currencies in the Korean market can use the SentBiz KRW Collection service to access all necessary features for overseas payments in one stop, ensuring safe and convenient payments.
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SentBiz KRW Collection is an API solution that provides all necessary functions for overseas payments
This is from collecting Korean Won in Korea to settling transactions in 31 global currencies across 174 countries.
SentBe provides this service through integration of its proprietary SentBiz API with the TTS (Treasury and Trade Services) systems operated by corporate clients, enabling them to use the solution tailored to their business models. Global companies intending to receive payments in Korea can provide safe virtual accounts to collect payments from Korean customers without the need for currency exchange, manage transaction histories, and settle collected KRW to 31 global currencies at desired times. Corporate clients can send settlement funds to up to 174 countries more affordably than banks. SentBe has also implemented OAuth2 and JWT authentication methods in its solution to ensure secure API communication with customers.
CEO Alex Seong-Ouk Choi of SentBe said: “With the launch of the SentBiz KRW Collection, we expect to resolve not only the efficient overseas payment needs of Korean companies but also the simple and secure KRW collection and settlement needs of foreign companies, solidifying our position as a global player in the overseas remittance and payment market by continually expanding the serviceable countries and enhancing global API payment functionalities.”
Meanwhile, SentBe continues to offer optimal cross-border remittance and payment services for both individuals and companies, significantly enhancing cost-efficiency. Between 2016 and 2023, SentBe facilitated $264m in fee savings through its SentBe C2C services and contributed to a $76m reduction in overseas remittance fees via its SentBiz B2B services from 2020 to 2023. Based on its business achievements in Korea and Asia, SentBe is accelerating sustainable
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