HUPAYX, Woori Bank and Catholic Church of Busan Diocese have signed a Historic Payment Service Agreement

HUPAYX, a South Korean blockchain-based payment service provider, established the first ever strategic consortium for Catholic Community based local currency business in Busan City area. The Catholic Church’s Busan Diocese, along with Woori Bank, LGU+, and KIS Information and Communication company, aim for greater transparency on direct and indirect donations from Catholic community members. The agreement was signed in Busan on the 19th of September 2019. After developing the user oriented regional currency model based on a blockchain payment service platform, HUPAYX started the development of the second commercial version of its mobile-based payment solution. Currently, the beta version can be found and downloaded for free on the Google App Store.

This past June, HUPAYX signed a separate business agreement with KIS Information and Communication company, one of the largest VAN and merchant terminal company with 2 million payment service app users in Korea. Together both entities decided to supply their payment services along with the Catholic Busan Diocese and Woori Bank’s integrated account CMS management, to Catholic community members. This enable for more convenient and efficient integrated management of the Woori Bank accounts through safe management of the donations paid by community members, as well as transparent deduction and utilization of income. Depending on how church members pay, the Catholic community can save more money than before. With these features, the Catholic payment service will be expanded to other diocese nationwide with subsequent overseas adoption.

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