How far can technology change our lives?

INTERVIEWEE

Kyuin Oh, Toss Pay Leader Sungbong Ha, Toss Head of Staff

In February 2025, Toss marked the 10th anniversary of its app launch by declaring a bold vision: “From finance to daily life, from online to offline, from Korea to the world.” For the past decade, Toss has driven innovation in finance. Now, the company has pledged to expand its impact into more moments of everyday life. Half a year later, as autumn begins, let’s look at how Toss is putting that commitment into action.

Toss, which began with simple transfers, is now challenging itself to become a super app for everyday life. Why?

Toss always began with a simple question: Why? Why should sending money need so many steps? Why should checking my credit score be so hard to do? By answering questions like these, Toss was able to introduce a range of new services, each aimed at solving widespread inconveniences. We believe that such problems are not confined to finance. Similar challenges exist in non-financial areas, and even for corporate clients.

What kinds of fundamental problems is Toss trying to solve?

Many of the world’s problems stem from poor user experience or limited access to information. Processes (funnels) are often unnecessarily complex, or information is scattered, making it hard for users to compare and choose. Toss’ mission has been to simplify these frustrations, and in doing so, it has built a track record of meaningful impact.

How does Toss approach problem-solving?

At Toss, we approach problems with First Principle Thinking. Rather than sticking to existing methods or conventions, we go back to the very fundamentals and redefine the problem at its core. Of course, it may seem crazy to challenge the inconveniences that others simply accept. Sometimes the calculations don’t add up, and we begin execution without full certainty. But we strongly believe in starting from scratch, free from preconceptions.

Where does the power to break from convention and act come from?

Toss culture is built on the concept of DRI. A DRI is the person who takes full responsibility for an entire task or project, including the final decision-making. The role is given to the person with the greatest expertise in that field. Even if a leader disagrees, a DRI has the authority to move forward. This allows those in charge to experiment quickly and repeatedly. Over time, these accumulated experiments enable the team to find the formula for success faster and drive constant progress.

Can Toss’ approach be applied beyond finance?

Yes. What matters is not the industry but the nature of the problem. If users feel inconvenienced or struggle to access the information they need, Toss sees it as a problem where it can contribute. Of course, our approach may not always be the perfect solution. But with proven experience, we believe it can be applied in other domains as well. At the same time, the further we venture into new domains, the more we know there is to learn. And we’re prepared for that challenge.

Recently, Toss’ new non-financial services have been drawing attention. What problems does Apps-in-Toss^*, which brings other apps into the Toss app, aim to solve?

Some services like moving or cleaning aren’t needed every day, but when they are, the process often feels unnecessarily complicated. Users have to download a separate app, create an account, and register their payment method, only to delete the app after one or two uses. This inertia has persisted since the rise of smartphones. For service providers, the pain is just as real: launching a new service requires not only app development and design, but also costly marketing to attract users. For startups, this can be a heavy burden. Toss set out to address these challenges for both users and providers. By enabling services to run directly inside the Toss app, users can skip hurdles like installation and signup, while providers can introduce their services much more easily. *Apps-in-Toss is a mini-app ecosystem within the Toss app, where anyone can create and grow their own services. Partners can introduce services ranging from games to everyday utilities directly through Toss. Users, meanwhile, can access these services instantly without installing a separate app.

Apps-in-Toss isn’t just a feature, it aspires to be an eco system. What does that mean?

Apps-in-Toss is more than a feature. It aspires to be an ecosystem where both users and partners can grow. Partners can create and launch their own services inside Toss, supported by the full range of resources Toss has built over 10 years: development tools, design systems, marketing solutions, and data dashboards. Toss itself remains only an operator, or “housekeeper” of the platform.

We see this as a way of applying the approach Toss has proven in finance to other fields as well. When Toss introduced loan brokerage services, it was the regional banks, disadvantaged against big offline branches, that saw the most meaningful growth. In the same way, Apps-in-Toss provides fertile ground for partners to thrive. When users and partners can both benefit, that is what we see as true shared growth.

FacePay was launched in September 2025 after nearly four years of preparation. With so many payment options already available, from cards to QR codes and e-wallets, why choose facial recognition?

As a latecomer to payments, Toss couldn’t compete on equal terms with entrenched methods like cards, QR codes, or mobile wallets. So it re-examined the payment moment itself: where could it create a fundamental difference? The face is the most direct and essential point of contact between stores and customers in the offline world. Although many people already considered payments convenient enough, we asked: Couldn’t it be even easier? Why pull out a wallet? Why pull out a phone? We believed payments could still become even more seamless.

Safety is another important topic. How is Toss addressing concerns about safety?

When simple transfers first appeared, people found them convenient, but also felt uneasy. The reaction is the same for FacePay, too. Alongside the convenience we provide, safety is always top of mind. Toss uses advanced facial recognition to distinguish subtle differences in each person’s features. For lookalikes such as identical twins, secondary authentication allows for safe payments. Our Liveness technology blocks fraudulent payment attempts made with photos or videos. Data is encrypted at a level that current technology cannot break, and transactions are monitored 24/7 through FDS (Fraud Detection System) technology.

What about institutional safeguards?

FacePay was built in close collaboration with the government, within a framework of recognized regulatory procedures. The service underwent a preliminary adequacy review by the Personal Information Protection Commission (PIPC), a process used when new technologies fall outside existing precedents. Together, Toss and the PIPC established compliance measures and verified implementation before launch, preventing potential legal violations and ensuring safe handling of personal data. Still, Toss recognizes that user concerns may remain, which is why it offers the Customer Protection Program^*. If a fraudulent transaction occurs, Toss proactively compensates the user for their losses. *In 2020, Toss became the first in the industry to introduce the Toss Customer Protection Program (see p.18). In May 2025, Toss Income, a Toss subsidiary that provides tax filing and refund services, also introduced its own Customer Protection Program. If a user incurs additional tax payments after using its hidden refund search service, they are compensated up to 1 million KRW, once per customer.

Why does Toss offer proactive customer protection policies?

Because relieving user anxiety is part of our responsibility. While such policies may add more operational burden, in the long run, taking responsibility is the surest way to build trust with our customers. The Customer Protection Program is rooted in Toss’ confidence in its technology and in the belief that this confidence should translate into users’ peace of mind.

The e-commerce market is already highly competitive. Why is Toss stepping in, and what does it hope to solve?

The e-commerce industry is already a crowded field. As a late entrant, we didn’t want to simply copy existing models. We wanted to ask what users really need. For Toss, commerce isn’t just about transactions. It should be where users naturally discover and experience products. Rather than putting the focus on commissions or fee structures, Toss aims to build a sustainable eco system. Small businesses with only five or so employees often lack the marketing power of large firms with dedicated, data-driven teams. If we can bridge this gap, it can give small sellers the tools to compete fairly. Toss Commerce isn’t just about transactions. It’s about helping sellers experience solid growth and connecting users to the right products at fair prices.

Speed has been Toss’s strength, but more areas now call for patience and long-term focus. How does Toss strike a balance between fast growth and stable expansion?

We refer to the 70:20: 10 rule, which guides how companies allocate resources: 70% to core businesses, 20% to growth opportunities, and 10% to entirely new experiments. Businesses like Apps-in-Toss, FacePay, and commerce fall into the 10 and 20 categories. Speed and endurance aren’t necessarily opposites. Toss looks like a fast-moving company because it defines problems clearly, runs a wide range of experiments quickly, and builds momentum by building small wins. But speed doesn’t always guarantee the right answer. Some initiatives take time to bear fruit. So, we aim to keep moving forward step by step, creating steady progress through a series of ‘small winnings.’

While Toss pursues new initiatives, what is the core user experience Toss is determined to protect?

In the short term, removing inconveniences. In the long term, creating new conveniences. When Toss first launched simple transfers, it couldn’t yet offer fee-free transfers. But by staying committed to its vision of the ideal experience, Toss eventually declared “free transfers for life” in 2021. Of course, not every service of ours succeeded, but every decision was guided by one question: Will this create a better experience for future users? Our goal is to keep removing everyday inconveniences step by step, while continuing to create new forms of convenience over time.

What positive changes can future Toss services bring to people’s everyday lives?

Day to day, or month to month, changes may feel small. But compared to 10 years ago, everyday life looks dramatically different. Toss wants its services to bring about those same incremental but significant shifts, by uncovering unnoticed inconveniences and making them quietly disappear. If FacePay takes root, a decade from now, carrying a wallet may feel unnecessary. We don’t know exactly what the future will look like, but we want to help shape it. And, importantly, we want to extend these changes to more people who we have yet to reach: teenagers, seniors, foreigners in Korea, and ultimately, users around the world. We are committed to making our services accessible to more and more people.

Advisor Woongdo Park, Toss Commerce Leader

Interviewer Jiyoung Lee