Founded in 1999, Korvac started as a pioneer provider of online payment services to airlines and telecommunications companies. It set up and operated payment infrastructure for key banks in Southeast Asia. In Singapore, Korvac became the largest NFC acquirer and expanded its presence in Malaysia to become the first China Union Pay acquirer. In Thailand, the Group’s subsidiary Card Alliance operated domestic switching and EPINS, an alternative PIN-based debit payment services that enable holders of participating Qualifying Full Banks’ (QFBs) ATM/debit cards to make PIN-based debit payments at participating merchants.

Korvac has been instrumental in spearheading the usage of ez-Link cards for non-transit purposes in Singapore through PaymentLink. To meet the needs of the rapidly changing consumer financial service sector, Korvac continues to evolve, it has led in rewards, data, e-wallets, prepaid and private label credit cards to some of the largest retailers in ASEAN region.