Reporter: What is KANAK Co., Ltd.'s long-term vision?
CEO: Our company primarily operates as a Payment Gateway (PG) provider, and our main goal is to solidify our position in the payment market. We aim to grow as a company that leads the market with unique technology, being the first in the country to introduce payment services utilizing palm vein information. Additionally, we plan to expand our current Bio Authentication Center by incorporating finger vein and facial recognition data, alongside palm vein information. This will allow companies to select the most suitable biometric data for their specific needs and environments, supported by our comprehensive bio-platform.
Reporter: How do you expect the Handit service to contribute to that vision?
CEO: In a market where large PG companies dominate, startups like ours must rely on specialized areas and new technologies to survive and achieve significant sales and revenue structures. In this context, our Handit service, which leverages biometric data for payments, stands as our most significant asset. By targeting hospitals in the Seoul metropolitan area, our clear target market, we aim to provide Handit with a differentiation strategy that emphasizes convenience and scalability.
Reporter: What are your expansion plans for the Handit service?
CEO: Our current strategy involves expanding the use of palm vein information in the payment market and beyond. We are developing models that utilize palm vein recognition for various applications, such as identity verification in corporate internal controls, access control at hospitals, golf courses, and residential complexes, and the integration of services in everyday scenarios.
Reporter: Can you explain the potential of palm vein recognition technology and your future plans?
CEO: The current palm vein sensor technology is becoming more precise and accurate, significantly reducing misrecognition rates. We plan to integrate these advanced sensors into payment devices. Although similar payment devices have been introduced and used in some overseas markets, no such equipment has been deployed in South Korea yet.
Reporter: Security is a critical issue in payment services. How does the Handit service ensure security, and are there any plans to enhance security further?
CEO: The importance of security in payment services cannot be overstated. Handit employs robust encryption in the collection and authentication stages of palm vein data. We also use post-quantum encryption solutions to protect data transmission over the network. Additionally, encrypted vein data is separately stored and distributed across distinct systems, rendering the isolated data useless without combining the components. This ensures that the stored data cannot be utilized in any meaningful way, enhancing overall security.
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