Kim Hee-jung, BC Card Communication Director, stated at the 'Ethiopia x K-Digital Connect 2026' forum held at DSRV headquarters in Gangnam-gu, Seoul on the 15th that cross-border digital payment infrastructure connections will become more important than virtual assets themselves as stablecoins expand. Kim projected that if stablecoins continue expanding, connecting payment infrastructure between countries will develop and expand further, making it a critical task for each nation to strengthen and build payment infrastructure. BC Card currently directly connects digital payment networks with multiple countries — Taiwan users can pay at Korean merchants using local mobile payment services, and BC Card customers can use local payment services overseas in Malaysia and other countries, enabled by each nation's independent payment infrastructure.
BC Card Projects Stablecoin Era Prioritizes Infrastructure Over Assets
Kim Hee-jung stated that as stablecoins expand, connecting payment infrastructure between nations will advance and expand, positioning national payment infrastructure construction as a critical task. Kim explained that BC Card's direct payment network connections with multiple countries are possible because each nation has its own payment infrastructure. Kim projected that as stablecoin-based payments expand, cross-border digital payment connections will develop further.
Kim defined financial infrastructure as a core foundation for national economic growth, stating that while physical highways connect people and logistics, financial infrastructure serves as a financial highway connecting money, data, and various digital financial services. Kim stated that once financial infrastructure is established, citizens' financial accessibility increases, enabling corporate revenue expansion and efficient government policy execution.
BC Card Operates MTI Payment Processing Joint Venture in Indonesia
BC Card presented its Indonesia case study as a representative example of its payment infrastructure construction projects in Asian developing countries. BC Card established MTI, a payment processing specialist company, in partnership with Indonesia's state-owned Bank Mandiri. BC Card transferred its domestically accumulated payment system and operational know-how to build local payment infrastructure. MTI currently performs payment processing operations for more than 16 financial institutions and fintech companies.
BC Card is also collaborating with KOICA to build a payment system education center in Indonesia, training practical IT personnel and connecting them to employment at local financial institutions and Korean companies.
BC Card Connects Cross-Border Payment Networks with Taiwan and Malaysia
BC Card introduced its cross-border digital payment network connection projects. Taiwan users can pay at Korean merchants using local mobile payment apps, and BC Card users can utilize local payment services overseas in Malaysia and other countries. Kim stated that these direct connections are possible because each nation has its own payment infrastructure, and projected that as stablecoin-based payments expand, cross-border digital payment connections will develop further.
BC Card is pursuing payment infrastructure construction projects centered on Asian developing countries. These nations have high economic growth rates and mobile penetration but lack payment infrastructure, resulting in high cash usage ratios and inefficiencies from financial institutions' duplicate investments. High dependence on overseas card brands and global payment networks made building independent payment ecosystems a critical task.
Kim Emphasizes Government-Private Collaboration for Infrastructure Projects
Kim emphasized that private companies alone face limitations in building financial infrastructure and require cooperation from international organizations and governments. Kim stated that it is not easy for private operators to pursue financial infrastructure projects overseas, and a collaboration model is needed where the public sector recognizes the importance of financial infrastructure and expands policy support while private companies provide technology and operational know-how.
BC Card is also pursuing payment infrastructure projects in Kyrgyzstan. The local government faced difficulties securing tax revenue due to a high underground economy ratio and was promoting cashless policies to address this. BC Card established a joint venture with an institution under the local central bank to expand payment touchpoints and build payment infrastructure connecting financial institutions and merchants.
FAQ
What did BC Card's Kim Hee-jung state about stablecoins at the forum on the 15th?
Kim Hee-jung stated at the 'Ethiopia x K-Digital Connect 2026' forum on the 15th that cross-border digital payment infrastructure connections will become more important than virtual assets themselves as stablecoins expand. Kim projected that connecting payment infrastructure between countries will develop and expand further, making it a critical task for each nation to strengthen and build payment infrastructure.
How does BC Card connect payment networks with Taiwan and Malaysia?
BC Card directly connects digital payment networks with Taiwan and Malaysia. Taiwan users can pay at Korean merchants using local mobile payment services, and BC Card customers can use local payment services overseas in Malaysia and other countries. Kim explained these direct connections are possible because each nation has its own payment infrastructure.
What is MTI and what role does it play in Indonesia?
MTI is a payment processing specialist company established by BC Card in partnership with Indonesia's state-owned Bank Mandiri. BC Card transferred its payment system and operational know-how to build local payment infrastructure. MTI currently performs payment processing operations for more than 16 financial institutions and fintech companies in Indonesia.
