Top Payment Service Providers in South Korea are: • KG Inicis is a leading Korean ecommerce payments service provider that was established in 1998. KG Inicis offers acceptance of several payment methods to its clients these are credit and debit card, purchasing card, Electronic Fund Transfer processing, gift card, loyalty card, stored value cards and point-of-sale payments. KG Inicis also provides value-added services such as automated payment reconciliation, settlement services, merchant accounting and customized reporting. • Korea Cyber Payment Ltd (KCP) is a payment service provider with headquarters in Seoul, South Korea. KCP has been providing electronic payments services in ecommerce since 1998. KCP currently acts as VAN (value-added network) and payment gateway and provides a secure, effective online payment processing services to merchants. Payment methods currently being supported by KCP are card payments, wire transfer, cyber accounts, mobile phone payment, gift certificate payment, ARS, various Points etc. KCP currently provides payment services to more than 100,000 online shops in Korea. • Korea Information & Communications Co, Ltd (KICC) is payment service provider in Korea established in 1986. During its earliest years of operation, it developed the first credit authorization terminal in Korea. KICC is a pioneer in various payment facilities in Korea from credit card VAN (value-added network) service, payment terminals, up to POS solutions and an expanded array of payment solutions allowing merchants to accept online payments from customers. • KSNET is a Korean payment service provider based in Seoul, South Korea established in year 1994. KSNET is known for offering VAN (value-added network services) and payment gateway services. Through these services merchants are able to accept payments via card, banking and other alternative payment methods. KSNET is currently serving over 220,000 merchants. KSNET was acquired by Net1 in 2010.