-  One click payment without downloads of app, Active X or security programs. Fast, easy and consistent across PCs and smartphones  
- Card partners include Samsung, Shinhan, Citi and Hana. Initially available on 11st (online/mobile) and Shocking Deal 11am with coverage to expand

Seoul, Korea, April 6, 2015—SK Planet released a super simple web-based payment service that saves shoppers the trouble of having to install an app. It is the first of its kind in Korea.

The new service named ‘Syrup Pay’ allows users to pay by simply entering the payment pass code they have set on PC or the smartphone. SK Planet announced that as of today Syrup Pay is integrated into all shopping channels of 11st including the online and mobile websites, 11st app and Shocking Deal 11am. 

In the days before Syrup Pay, the so-called easy pay services required shoppers to either register a single credit card or to use a separate payment application. In the PC environment, this was further complicated by the need to install a certificate, Active X and security programs.

▶ All it takes is a single click to select Syrup Pay as the preferred means of payment and then type in the pass code. No additional downloads necessary.
Syrup Pay, however, allows shoppers to register and use any and all credit cards issued by Syrup Pay partner. Using the web-based service, the shopper may pay for his purchase without having to download an app, Active X or a security program.

Payment is a single-step process completed by keying in the payment pass code, and the simplicity is consistent across different models of smartphones and personal computers. This consistency eliminates the need to download programs on PCs or to activate an app to input the pass code.

To enjoy this convenience, shoppers need to select Syrup Pay as the preferred payment service. The first transaction involves a registration process in which the cardholder is first authenticated by SMS, then the credit card credentials—namely, card number, expiry date and the first two digits of the credit card pass code—are entered on the device, and finally the 6-digit payment pass code is keyed in. The registration is done through a pop-up screen in the e-commerce site. Once this is done the shopping mall site will automatically identify the user upon subsequent log-ins and approve Syrup Pay transactions without additional steps. 

▶ Syrup Pay partnership covers nearly all credit card issuers, providing simple pay capabilities at no added development investment
Partners already onboard include credit card companies Samsung, Shinhan, Citi and Hana (formerly Hana SK and KEB cards). KB Kookmin Card, Lotte Card and Hyundai Card are slated to sign a partnership agreement no later than April with services to open in May. SK Planet will work towards expanding the credit card company partnership on the one hand and alliance with e-commerce sites on the other to broaden Syrup Pay adoption. SK Planet plans to link Syrup Pay with the smart shopping service Syrup to offer more convenient experience in discounts and royalty points program. The end goal is to support payment in the offline space as well.

Jung Ki-hyun, Chief Product Officer of SK Planet expressed his confidence in the service saying: “Syrup Pay is the ultimate easy pay service that guarantees consistent payment experience across all shopping platforms. As Syrup Pay eliminates the need for investment in development, even the small-and-medium e-commerce players will be able to offer easy pay capability. This will create a great opportunity for payment ecosystem to grow both online and offline.”

▶ Encrypted security system offers the safest payment service
SK Planet introduced robust security capabilities that have passed the review by Financial Supervisory Service. Moreover, Syrup Pay meets the PG requirements mandated by the government such as FDS fraud detection system, disaster recovery center and PCI-DSS certification. It also complies with security system requirements set by the respective credit card companies. In sum, Syrup Pay offers the highest level of security among easy pay services while at the same time delivering the convenience of paying with a single click.

To celebrate the launch of Syrup Pay, 11st will distribute coupons which are good to use on Syrup Pay worth maximum KRW 5,000 in discount. SK Planet plans to give away 2,500 coupons every day beginning on April 8th and ending on the 30th.