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Next Payments

Category: AI in Marketing

An AI-powered smart retail and data analysis platform that enables the digital transformation (DX) of physical stores through integrated hardware and software solutions. Next Payments was founded in 2019. The company is led by Gwang-cheol Ji. Based in Seoul, South Korea. Team size: 30-50. Total funding raised: $6.5M+. Latest round: Pre-IPO follow-on investment (Dec 2024). Key investors include Envester, New Paradigm Investment, Korea Alternative Investment Asset Management, Miracle Lab, Nvestor.

Founded
2019
Headquarters
Seoul, South Korea
Team size
30-50
Total funding
$6.5M+

Value proposition

Maximizes store operational efficiency and increases revenue by automating customer interactions and providing deep data-driven insights into customer behavior.

Products and solutions

Next Kiosk (AI-integrated self-service kiosks), Next Order (Integrated table and mobile ordering system), Next Signage (AI-driven digital advertising displays), Next Cobot (AI service robots for delivery and assistance), AIoT Data Platform (Real-time floating population and customer behavior analysis), N# (N-shop) Innovation Lab (A global model for the 'Smart Store' environment), Smart POS & KDS (Integrated Point of Sale and Kitchen Display Systems)

Unique value

Selected as one of only 14 Korean startups for the OpenAI Collaboration Program, integrating advanced LLM capabilities directly into retail hardware for real-time voice and chat interactions.

Target customer

Small business owners (SMBs), food and beverage (F&B) franchises, retail storefronts, and global retail enterprises.

Industries served

Smart Retail, Food & Beverage (F&B), Fintech, AIoT (Artificial Intelligence of Things), Robotics

Technology advantage

Utilizes proprietary AI models for facial recognition and gaze tracking to identify customer demographics (age, gender) and movement patterns, enabling personalized menu recommendations and automated marketing. Their 'Physical AI' (Nano brand) also automates physical store tasks like cooking and manufacturing.

How they differentiate

Differentiates through an 'Integrated AI Smart Retail Platform' that combines hardware (kiosks, table orders, signage, and service robots) with proprietary AI for behavior analysis, facial recognition, and LLM-driven voice/chat interactions via a strategic partnership with OpenAI.

Main competitors

Payhere, Torder, Spoqa (Dodo Point)

Key partnerships

OpenAI (Strategic collaboration for LLM integration), Samsung & LG (Hardware and smart device partnerships), Microsoft & AWS (Cloud and AI infrastructure), Moneris (Leading Canadian payment service provider), Otter (US-based delivery management platform)

Notable customers

Moneris (Canada), Otter (USA), Various F&B Franchises in Korea, Partnerships with Samsung and LG

Major milestones

Selected as one of 14 Korean startups for the OpenAI Collaboration Program (2023), Won 1st Place at the Startup Japan 2024 IR competition, Won 3rd Place at the Expand North Star 2024 IR competition in Dubai, Secured Pre-IPO scale funding in Dec 2024

Growth metrics

Estimated revenue of 6.8B+ KRW (~$5M) in 2024 with a growing global footprint through expansion into the Japanese and North American markets.

Market positioning

AI-driven Retail Tech and Fintech challenger specializing in digital transformation (DX) for physical stores.

Geographic focus

South Korea, North America (Canada/USA), and Japan.

Patents and IP

Holds national certification for 'Intelligent Information Products' and multiple patents related to AI-based kiosk management and customer data analysis systems.

About Gwang-cheol Ji

Gwang-cheol Ji (also known as Kevin Jee) is the founder and CEO of Next Payments. He has nearly two decades of experience in financial and retail technology, specializing in smart payment systems and digital transformation. Under his leadership, Next Payments has become a prominent AI retail tech firm, securing partnerships with global giants like OpenAI, Samsung, and LG. He has successfully led the company through several funding rounds, including a Series A in mid-2024 and a Pre-IPO follow-on investment in late 2024.

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