Travel Wallet Starts IPO Preparations, Expands Digital Wallet and B2B Payments Businesses

Global foreign-exchange payments fintech company Travel Wallet said June 25 that it had selected NH Investment & Securities Co. and KB Securities Co. as lead managers for its initial public offering, formally launching preparations for a 2027 Kosdaq listing.

The company said the appointments also mark the start of a broader expansion of its global digital wallet service and B2B payments infrastructure business. It plans to accelerate its overseas push using its in-house foreign-exchange and payments infrastructure.

Travel Wallet chose the lead managers after a listing pitch and presentation process involving major South Korean securities firms. The company said it made the final selection after evaluating their fintech IPO experience, research capabilities and networks of global institutional investors.

Travel Wallet currently offers foreign-currency top-up and overseas payment services in 46 currencies. As of June, cumulative card issuance had exceeded 9.6 million, and cumulative transaction value reached 9.8 trillion won ($7.1 billion).

The company is also stepping up its expansion into the global digital wallet business beyond its existing foreign-exchange payments service. In April, it launched services for local users in Japan and plans to use that foothold to broaden its digital wallet ecosystem in overseas markets.

At the same time, it is upgrading its B2B payments infrastructure using its cloud-based payment processing system and technology that links with global card networks. The company provides overseas payment, foreign-currency settlement and global card issuance functions in modular form, allowing businesses to roll out global financial services without building separate infrastructure.

Chief Executive Officer Kim Hyoung-woo said Travel Wallet has grown by broadening access to foreign-currency top-ups and overseas payment services while advancing its own foreign-exchange and payments infrastructure. Having proven its service competitiveness in South Korea's foreign-exchange market, the company believes this is the right time to pursue a larger market through its global digital wallet and B2B payments infrastructure businesses.

Kim added that the IPO will be a key turning point in Travel Wallet's push to become a global foreign-exchange and payments infrastructure company. It will work with its lead managers toward a 2027 Kosdaq listing and continue building a sustainable fintech business with both technological capability and profitability.