Daniel Shin is no stranger to innovation. The co-CEO and founder of PortOne Global, Shin, has played a prominent role in the rapidly growing and expanding payment processing industry. A data-driven industry titan with deep roots in the Asian markets, Daniel Shin rose to prominence after founding TicketMonster (TMON). The company’s explosive growth helped the market fundamentally shift, leading more and more companies toward effective payment processing solutions in that market.
Now with PortOne Global expanding by giant leaps and bounds in the years following the COVID-19 pandemic, Daniel Shin is taking his time to outline the actions that he took to guide his company to prominence. Along the way, Shin took time to discuss the different ways that payment processing companies can help to benefit businesses in the post-COVID marketplace.
Providing Payment Solution Benefits
First and foremost, PortOne Global was founded to offer solutions to a market that was in desperate need of them. A good payment solution system can offer a range of benefits to companies and clients depending on their needs. Shin acknowledged that business needs will vary depending on the individual systems put in place.
Shin says, “It is important, especially in a less frothy economy like now, to save costs wherever possible. PortOne allows merchants to scale without having to scale engineering teams.”
The right payment solutions benefits, according to Daniel Shin, will offer these core solutions:
- Streamline and Convert Sales – With the right payment processing system in place, customers will have access to the payment provider they need to secure the transaction. By offering a multitude of familiar methods of payment, customers will be better able to find the one that fits their comfort.
- Transactional Reliability – Losing a sale that has made it all the way to the check-out can be a heartbreaking and business-bruising moment. Transactional reliability is important because it turns those lost sales into profit by minimizing processing errors and other potential delays. PortOne offers seamless transactions and backup routes in case of potential failure.
- Repeated Sales Encouraged – When a customer enjoys an experience with an eCommerce platform that is as smooth and simple as they hoped, it can lead to an ongoing relationship. Platforms like PortOne Global give customers the payment methods that they want in a system that is smooth enough to execute their transactions.
Shin is of the belief that making it easier to make sales can make it easier to build long-lasting relationships with customers. Continued improvements in these areas have led to interconnected systems that offer these benefits in spades, with PortOne Globa leading the charge.
About Daniel Shin & PortOne Global
Daniel Shin is a South Korean innovator and angel investor who attended the University of Pennsylvania’s Wharton School, where he acquired his B.S. in Economics in 2008. Upon graduation, Daniel Shin would transition into a role as a business analyst for the firm McKinsey & Company. They cut their teeth on an entry-level position before returning home to Korea, where they would launch a triumvirate of successful companies.
Shin says of his work, “I think I’m an entrepreneur that really enjoys the early part of a startup, an industry, or a topic that is currently unsolved.”
Prior to his work with PortOne Global, Daniel Shin launched Ticket Monster in 2010. Ascending to become Korea’s second-largest mobile commerce business, Shin had the experience and expertise required to take his work to the next level. In 2012, Shin founded Fast Track Asia, and by 2020, Shin was working on the project that would become PortOne Global.