OrangeSquare operates WOWPASS, an all-in-one prepaid card that combines payments, currency exchange, and transportation functions for foreign tourists. The company runs over 180 self-service currency-exchange kiosks placed along key tourist routes. Cumulatively about 1.2 million foreign visitors have installed the WOWPASS app and the service has processed over 15 million transactions; roughly 10% of inbound tourists use WOWPASS. OrangeSquare plans to leverage its K‑POP–engaged user base and the newly formed partnership to expand on- and offline payment services and joint marketing with fan communities. The company intends to explore strategic synergies and collaboration opportunities with its investor to increase WOWPASS’s value and growth. Orange Square operates WOWPASS, an all-in-one prepaid card that combines payment, currency exchange and transport functionality for foreign tourists. The product launched 1 year and 5 months ago and has issued 500,000 cards and attracted 700,000 app users; monthly card users exceeded 8% of inbound visitors as of November 2023. The company has installed roughly 150 unmanned kiosks across subways, hotels, convenience stores, department stores and marts, and offers app-based reservation products. In 2023 the company posted four consecutive profitable quarters, recording revenue of 110억 원 and an operating margin of 20%. Orange Square plans to expand kiosks to more than 400 units within two years and to grow mobile/web travel commerce, cashback partnerships and other convenience services for foreign visitors. Management says the goal is to further entrench WOWPASS as a dominant foreign-payment method and evolve into a broader inbound-travel “K-superapp.”

Total raised

$7M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2024