A consumer-centric simplified payment service that allows users to split a single purchase amount across various payment methods (cards) via a mobile app is set to launch in the first half of next year. This service is the first of its kind to be introduced domestically, drawing significant attention as it is being developed by a startup based in Jinju.

Located at the Jinju Bio Industry Promotion Agency, 'Littlefin' is developing 'Paywrap,' a next-generation payment platform that allows users to combine multiple payment methods for a single order.

Founded last year, Littlefin is a fintech startup that has grown with the support of the government and local authorities. It is currently executing projects after being selected for about 10 startup and commercialization support initiatives and programs. Notably, it won the Grand Prize (1st place) at the '2026 Welcome to TIPS (Southeast Region)' competition, securing priority selection for the '2027 Pre-TIPS' program. TIPS (Tech Incubator Program for Startup) is a private investment-led tech startup support program where private investors and the government collaborate to nurture promising tech startups.

Paywrap, currently under development by the company, breaks away from the conventional system where a single order must be paid for using only one card or account. Instead, it introduces a new framework that merges multiple payment methods into a single transaction.

For instance, when purchasing an item worth 1 million KRW under the existing system, the user has to pay the entire 1 million KRW with one specific card.

However, with Paywrap, users can conveniently distribute the total amount across various registered cards—such as 400,000 KRW on Card A, 300,000 KRW on Card B, and 300,000 KRW on Card C—and complete the transaction all at once. It is a consumer-driven simple payment framework where consumers directly determine the methods and amounts on the checkout screen, eliminating the hassle of requesting the seller to split the transaction manually. To use this service, users simply need to install the Paywrap app on their mobile phones and register their cards.

Littlefin has been developing Paywrap’s core payment functionalities and has successfully completed proof-of-concept (PoC) testing for Paywrap payments through an open innovation program with NICE Information Service, a major domestic Payment Gateway (PG) company.

The company is currently focusing on technological development to reinforce security and minimize potential errors during transactions. Littlefin has ensured transaction data integrity and reliability by implementing a system that reverts the entire transaction to its original state if an issue occurs where only a partial amount is processed during the payment phase.

In addition, Paywrap enhances data security by leveraging the payment infrastructure and technologies of existing PGs rather than storing sensitive financial information, such as card numbers, directly on its own servers. The startup also plans to advance its technology further to achieve faster transaction speeds and higher stability.

Along with these technological refinements, Littlefin aims to finalize integrations with partner companies, including credit card issuers and PGs, with the goal of officially launching the service in March next year.

"The fact that split-payment was impossible in online transactions served as the catalyst for developing this service," said Kim Young-seok, CEO of Littlefin. "Through the 'Seoul Metropolitan Government Public-Private Cooperation Open Meetup Program,' we were able to sync with a major PG. We successfully completed the core development after initiating practical validation talks regarding Paywrap's payment structure and business model."

He added, "While the online simple payment market has conventionally competed over how to make transactions faster and more convenient, I believe the future market will shift toward competing over how consumers can utilize their multiple payment instruments most efficiently. Our ultimate goal is to expand this payment technology, proven in the domestic market, into global markets."

Once the official service rolls out next year, Littlefin plans to apply for the R&D program of the 'Tech Incubator Program for Startup (TIPS)' hosted by the Ministry of SMEs and Startups. Through this, the company intends to further sophisticated Paywrap's payment system technology while expanding its scope of cooperation with PGs, credit card companies, and large-scale merchants.

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Reporter: Heo Gwi-yong enaga@idomin.com