Fintech app Toss has reached nearly 60 percent of South Korea’s total population just a decade after its launch, with users surpassing 30 million as of July, according to app operator Viva Republica on Wednesday.
The penetration rate climbs even higher among the working-age population. As of July, 76 percent of those aged 15 to 64, or 26.74 million people, were using the app.
Adoption peaked among users in their 20s and 30s. Based on July resident registration data from the Ministry of the Interior and Safety, 95 percent of people in their 20s and 87 percent of those in their 30s use Toss, bringing the combined usage rate for the two age groups to 91 percent.
Launched in 2015, Toss has grown into South Korea’s largest fintech platform, playing a key role in accelerating digital transformation across the financial sector and dramatically enhancing customer convenience.
What began as a fee-free money transfer service has evolved into a leading financial app, offering payments, banking, investments, credit scoring, ID verification, tax and insurance.
More recently, it has begun expanding beyond finance and mobile, adding commerce features, while moving offline with offerings like face recognition-based payments.
“The milestone of 30 million accumulated users is a strong indicator supporting our long-term vision,” a Viva Republica official said, adding, “We’ll continue to innovate to enhance the user experience and repay that trust.”
jwc@heraldcorp.com
