Seoul plans to launch a local mobile payment platform, S-pay, to improve the payment experience for people and small businesses, local media reported.
![](https://i0.wp.com/paypay.me/"wp-content/uploads"/2018/08/south-korea-2132622__340.jpg?resize=453%2C340)
To this end, the Seoul municipal government has formed a special group to accelerate the landing of the project. The team will be the platform to build the system and work with the major banks to butt Seoul SMEs.
The S-pay platform supports mobile end applications and two-dimensional code payments to reduce the rate at which a merchant is required to pay a credit card when it is used. And, the platform system operation process will not pass the credit card company’s related system.
Seoul Mayor Park Won-soon said in his inaugural address that reducing the burden on small businesses and achieving the 0 rate paid is the original design idea of S-pay.
In addition, the Seoul city government also cooperates with Samsung SDS to apply block chain to platform management, enhance transaction information security and enhance business convenience and effectiveness. It is also working with “Ground X”, a block chain company owned by Kakao, a social giant, to fund block-link projects that serve social life.