KOK Foundation has signed a memorandum of agreement (MOA) with The Nine Company, a company specializing in unmanned payment kiosks, and is speeding up the introduction of offline payment of KOK tokens. In the future, KOK tokens will be available for offline payments by domestic and foreign kiosk merchants beyond online payments within KOK PLAY.
The Nine Company, is an unmanned payment company that supplies kiosks to Megabox, professional basketball, and baseball stadiums, as well as Lotteria, starting with CJ CGV in 2009. It is making efforts to enter global markets such as the U.S., China, Indonesia as well as South Korea, and is making a big impact on the industry.
Based on this agreement, the KOK Foundation will realize its goal of introducing virtual assets in the real world by strengthening its status as a comprehensive payment method for both off and online in various ways in the long term.
In particular, the use of KOK tokens is expected to be greatly strengthened in the future as the prolonged non-face-to-face culture spreads due to the prolonged COVID and the size of the kiosk market is also growing.
You can find the details of this agreement in the article below.
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The Nine Company Korea (CEO Ra Hyun-chae), a company specializing in unmanned payment kiosks, signed a joint business agreement (MOA) with KOK PLAY (CEO Kang Ji-won), a blockchain global content platform, on February 19.
The Nine Company Korea's unmanned payment kiosk is a very meaningful partnership in which the two companies agree and cooperate on three major joint projects, including the establishment of kiosks, use of KOK payment pay, and operation of KOK contents in kiosks. This partnership is also significant due to the rarity of alliances between pure online platforms and niche offline specialized platforms such as The Nine Company.
This alliance is a direct response to the effects of the global pandemic and the way it has affected core elements of society and business. Both companies saw the need to evolve with the changing business climate and this partnership is expected to be the "door-opener" to new and emerging markets.
Ra Hyun-Chae, CEO of The Nine Company Korea, said, "Through this contract, we have become a new turning point where we use KOK PLAY's organization and contents to upgrade our unmanned payment kiosks and apply various contents and new payment methods."
The Nine Company Korea is a kiosk specializing in unmanned payment and has recently been quickly installed in the market with a "free rental installation" method for small business owners under the banner of platform business through kiosks in 2020. KOK PLAY is a global content platform operator that has rapidly increased subscribers in a short period and is preparing for domestic and overseas services.