Hecto Financial
Seoul, KR Β· 35 employees on LinkedIn Β· Public Β· 2 known investors
Hecto Financial is a South Korean fintech company (KOSDAQ 234340) providing payment and settlement infrastructure, including account-based payments, cross-border settlement, and USDC stablecoin-based global remittance via Circle's CPN. It also serves merchants and financial institutions and is developing AI agent payment infrastructure based on standards like x402 and Google's AP2.
Also known as Hecto Financial Co., Ltd. Β· SettleBank Corp Β· μΈνλ± ν¬ Β· ν₯ν νμ΄λΈμ
Founders & leadership
Investors Β· 2
Company profile
researched Aug 2026Hecto Financial Co., Ltd. (ν₯ν νμ΄λΈμ , KOSDAQ: 234340, formerly SettleBank Corp) is a Seoul-based financial infrastructure provider. Its banking line covers virtual accounts, "010" virtual accounts, firm banking, simple cash payment (κ°νΈνκΈκ²°μ ), escrow and related value-added financial services, while its payment line covers online and offline payment gateway processing across Korean payment methods including credit cards, mobile-phone billing and gift certificates, plus kiosk payments. Consumer-facing and white-label products include RoundPay (λΌμ΄λνμ΄) simple payments with money and points balances, the "My Account Payment" (λ΄ν΅μ₯κ²°μ ) direct-from-bank-account product, and a prepaid/charging service.
The company also relays financial information and provides related devices and software development services. It is extending from domestic account-based finance and PG into cross-border payment, overseas remittance and stablecoin-based settlement, describing a target of a "one-stop cross-border financial hub." It participates in Circle Payments Network (CPN) for USDC-based cross-border payment and settlement, joined the x402 foundation for AI-agent payment standards, and completed a proof of concept for AI-agent payments based on Google's AP2 (Agent Payments Protocol) in June 2026, with plans to extend this to a "Universal Cart" experience and to offer AI payment infrastructure to small merchants. Hecto Financial is majority-affiliated with Hecto Innovation Co., Ltd., which holds a 38.5% stake.
Business model
Hecto Financial supplies payment, banking and settlement infrastructure to merchants, platforms and financial institutions, earning fees on transaction processing and settlement. Higher-margin, membership-based services such as λ΄ν΅μ₯κ²°μ within its simple cash payment segment, together with cross-border settlement for global merchants, are cited as the drivers of profitability. It also acts as a partner recruiting agent for card issuers in card-benefit curation services.
Transaction- and settlement-fee based revenue from banking services (virtual accounts, firm banking, simple cash payment), online/offline payment gateway processing, cross-border settlement, and card-issuer affiliate arrangements. Reported segment revenue is classified under online financial information provision and is generated in South Korea.
Traction
The company states it processes more than KRW 1,200 trillion of transactions annually and that its global transaction volume in 2025 grew 170.3% year on year. First-half 2026 consolidated revenue was KRW 107.6B with operating profit of KRW 13.7B, up 18.9% and 83.5% year on year; second-quarter 2026 revenue was KRW 50.1B and operating profit KRW 4.6B, up 12.6% and 20.2% year on year, though down quarter on quarter after transaction-structure adjustments at some merchants. Q1 2026 net income was reported up 134%.
Latest developments
In 2026 the company joined the x402 foundation (July), was selected as the provider upgrading Samsung Wallet's "Popular Card Finder" service (July), signed an account-based payment MOU with KakaoBank (May), reported record first-half results and granted market-capitalization-linked RSUs to key employees conditioned on a KRW 1.5 trillion market cap (August), and was named among the AFA Awards 2026 Asia top 30 fintech companies (August).
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
Described as the leading operator in Korea's simple cash payment market and the sole Korean partner in Circle Payments Network. Selected among the top 30 fintech companies in the Asia Fintech Alliance's AFA Awards 2026 and entered as a Grand Award candidate in the cross-border category. Its annual sales grew from KRW 110B in 2021 to KRW 187B in 2025.
Combines established domestic account-based and PG infrastructure with early positioning in stablecoin and AI-agent payment rails β sole Korean CPN partner, x402 foundation membership and a completed AP2-based PoC β and leverages group-internal card-benefit comparison data through the λμμΉ΄λ platform.
Technology
Account-based payment and settlement rails (virtual accounts, firm banking, simple cash payment), online/offline PG processing, escrow and financial-information relay systems, plus device and software development. Newer stack elements include USDC stablecoin settlement via Circle Payments Network, the x402 payment protocol for autonomous agent transactions in stablecoins, and AI-agent payment flows built to Google's AP2 specification.
Go-to-market
Direct sales and service application through its website (λμ λ¬Έμ/service application), a developer center and merchant administration portal for integration, and white-label distribution of its banking and payment services. Growth also comes via partnerships with large platforms and financial institutions, including Samsung Electronics (kiosk-based offline PG since 2022, official distribution partner status, and the Samsung Wallet "Popular Card Finder" service) and a business-cooperation MOU with KakaoBank on account-based payments.
Online and offline merchants (including global merchants and small business sellers), platforms and financial institutions requiring collection, payment, settlement or remittance capabilities, as well as end users of its consumer payment products.
Geography
Headquartered at Taegwang Tower, 9-10th floor, Seoul (Yeoksam-dong), South Korea. Reported sales are attributed entirely to South Korea, while cross-border payment, remittance and stablecoin settlement activity extends its reach to global merchants and networks.
History
The company was formerly named SettleBank Corp before becoming Hecto Financial Co., Ltd. It entered the offline PG market in 2022 through Samsung Electronics kiosk distribution and has since expanded into cross-border settlement, stablecoin-based payments and AI-agent payment infrastructure.
Risks & controversies
Quarterly results declined sequentially in Q2 2026 after the company temporarily adjusted service operations and revised transaction structures for some merchants. Reported revenue remains concentrated in South Korea, and newer stablecoin and AI-agent payment lines depend on digital-asset legislation and on standards (CPN, x402, AP2) still being commercialized. Analyst coverage is thin, with a single analyst publishing estimates.
Compiled by commissioned research from 6 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 7
launches, deals, and filingsThe Asia Fintech Alliance, a network of fintech associations from 16 Asian countries, named Hecto Financial one of 30 companies across five categories in its first AFA Awards, and entered the company as a Grand Award candidate for cross-border business potential.
Announced H1 2026 consolidated revenue of KRW 107.6B and operating profit of KRW 13.7B, and granted restricted stock units to key employees payable on reaching a KRW 1.5 trillion market capitalization.
Hecto Financial was selected to provide and upgrade the 'Popular Card Finder' service inside Samsung Wallet, adding monthly themed card recommendations, card-issuer event curation and Samsung Wallet Points, extending an existing relationship that began with kiosk-based offline PG in 2022 and official Samsung distribution partner status.
The company joined the x402 foundation, an open-source project building a global payment standard allowing AI agents to transact in stablecoins without human intervention, and plans to combine x402 with its payment/settlement infrastructure and Circle Payments Network access.
Successfully completed a PoC of AI agent payments based on Google's Agent Payments Protocol (AP2), targeting commercialization in Q3 and later expansion to a 'Universal Cart' spanning multiple online shopping malls.
Hecto Financial and KakaoBank signed a comprehensive business cooperation agreement at Hecto Financial's Yeoksam-dong headquarters to develop next-generation account-based payment services.
Reported plan to dispose of 8 billion won worth of the company's own shares.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 6
primary sources listed
- Hecto Financialhectofinancial.co.kr Β· web
6 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Hecto Financial do?
- KOSDAQ-listed Korean fintech providing account-based banking, payment gateway and cross-border settlement infrastructure.
- Who are Hecto Financial's investors?
- Hecto Financial's investors include Atinum Investment Co. Ltd., Premier Partners.
- Where is Hecto Financial headquartered?
- Hecto Financial is headquartered in Seoul, KR.