SSGPay, the mobile payment service unit of South Korea’s retailer giant Shinsegae Group, on Friday announced it will introduce an overseas remittance service within this year in partnership with WireBarley, a fintech startup specializing in mobile and online remittance.

The service will be available in 16 countries including the United States, Japan, Europe, Singapore, Philippines and Malaysia, which are supported by WireBarley’s network.

SSGPay mobile wallet users will be able to wire money to these countries conveniently with affordable fees after linking the mobile payment service with their bank account or through SSG Money.

WireBarley is a leading international remittance startup offering mobile and online inter-country remittance services with competitive fees. In just two years since its launch in 2017, the company attracted 100,000 users from 16 countries, with the cumulative amount of remittances hitting $150 million.

SSGPay said it expects the partnership with WireBarley to provide customers with a wide range of financial services that extend their reach overseas.

Boosted by a growing presence of fintech companies in the Korean money wire market, the number of overseas remittances worth less than $3,000 per case reached 550,000 cases in the first quarter, a whopping 350 percent growth from a year ago.

By Lee Yoo-jin and Minu Kim

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