Yulchon Successfully Advised Greenlabs, a Data Agriculture Startup, in the Payment Gateway Registration of its Subsidiary Greenlabs Financial
2022.12.26.
Yulchon successfully advised Greenlabs, a data agriculture startup, and successfully completed the electronic financial business (electronic prepayment means and payment gateway business) registration of its subsidiary Greenlabs Financial.
The electronic financial business registration will allow Greenlabs Financial, as a payment service provider, to take full charge of the entire payment processes generated from the services of its parent company. Greenlabs, and to pursue financial innovation specialized for agricultural workers based on this project. Greenlabs Financial also plans to launch various services providing consumer benefits, such as lower fee structure, reward services such as promotions and membership points, and specialized agricultural credit card issuance.
During the course of this project, Yulchon's E-business & Fintech team conducted a comprehensive analysis of the registration requirements, reviewed the business plans, obtained advice on regulatory perspectives, maintained smooth communication with the regulatory authorities, conducted preliminary checks on physical equipment requirements with advice and support in responding to on-site audits, all of which led to the successful registration of the electronic financial business.
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