Everpia JSC joins forces with Hyojung Soft Tech JSC to enrol fintech

August 05, 2020 | 10:32

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Everpia JSC, known for its matress brands Everon and Kingkoil, has invested in Hyojung Soft Tech JSC in a move to boost its growth and turn it into a leading company in one of the most promising industries in Vietnam.

everpia jsc joins forces with hyojung soft tech jsc to enrol fintech

The signing ceremony of the strategic partnership between Everpia JSC and Hyojung Soft Tech JSC

Hyojung Soft Tech is a fast-growing financial technology and banking services company driving innovation in POS system and payment services. It provides a total POS solution to retail stores with advanced Korean technology.

Hyojung is well-known for its services spanning from POS (Payment), PCPOS, PROGRAM, and SI (System Integration). Currently operating in more than 500 stores throughout Vietnam, Hyojung helps merchants in analysing customer behaviour and provides deep assistance and advice based on big data from POS system and payment services.

Lee Jae Eun, CEO of Everpia JSC said that, “This investment marks our first strategic partnership with a tech-based firm. As digitalisation takes place in various aspects for Vietnamese consumers, our partnership with Hyojung at its early stage will help us understand Vietnamese consumers on a deeper level.”

“We also hope to assist the Vietnamese government in its plan to reduce cash usage in payment methods to under 10 per cent by 2030,” he noted.

Park Jung Gyu, CEO of Hyojung Soft Tech said: “We are delighted to establish a strategic partnership with Everpia. Our technology will foster the digital transformation of Everpia’s wide network of 600 franchise stores and showrooms throughout Vietnam.”

All Everon stores will be equipped with advanced fintech technologies ranging from financial services, POS, and card bank services (zeropay, giftcon, and virtual account services) to customer management services.

Furthermore, big data analysis from all transactions occurring at Everon stores will help Everpia to effectively curate its product portfolio and efficiently manage its production and distribution system. From 2021, Hyojung Soft Tech and Everpia will develop and distribute an integrated payment platform that suits companies with nationwide retail network systems in Vietnam.