2024.07.15. The Fair Economy — MINTIT, a non-face-to-face used phone trading platform company that uses artificial intelligence (AI) to assess phone grades, is introducing a service that thoroughly addresses the biggest concern in used phone transactions: the worry about residual personal data and its recovery.
MINTIT (CEO Ha Seong-mun) announced on the 15th that it has developed an app equipped with a service that completely deletes personal data stored on phones, and will offer it for free starting early August.
As a leading used phone trading platform operator in Korea, MINTIT planned this service by leveraging its core strengths and experience to resolve customers' anxiety about personal data exposure when selling their phones, and to foster a culture where used phones are not left idle or discarded but are recycled in a virtuous cycle.
MINTIT emphasized, "The biggest reason many people hesitate to engage in used phone transactions is the fear of personal data leakage. With the MINTIT Safe app, there is no need to connect to a PC or other dedicated hardware; simply installing the app on your phone allows you to use it. You can comfortably delete your data at home without third-party involvement, and we even provide a certificate, making it more convenient and secure than any existing service. We aim to create a culture of securely deleting data before storing used phones at home, and to lead the nation's personal data protection with the MINTIT Safe app."
MINTIT purchases about 1 million used phones annually through its AI-based used phone trading platform, MINTIT ATM. Through this non-face-to-face device, customers can check their phone's performance information and sell it within 5 to 10 minutes, and receive immediate on-site personal data deletion and payment of the assessed phone value. This new service is even more significant because it makes the complete personal data deletion technology used in MINTIT ATM available to everyone.
MINTIT's personal data deletion technology has also received international certification. In 2021, it obtained the international standard software quality certification (SQA, based on ISO/IEC 25051:2014) for personal data and data deletion programs from TUV SUD in Germany, and earlier this year, it received technical certification from ADISA, a global information security specialist organization. It passed the 'attack using forensic tools and techniques' test managed by ADISA, thereby proving the safety of personal data security, which is the biggest concern for customers when trading used phones.
Based on this technological prowess, MINTIT operates a program that compensates up to 1 billion won (about $720,000) for personal data leakage damages suffered by MINTIT ATM customers. Last year alone, MINTIT issued 850,000 data deletion certificates.
Going forward, MINTIT's strategy is to actively promote the spread of a recycling culture based on its core used phone business, while leading the industry by advancing its business model to meet the needs of stakeholders, including the government and customers.
A MINTIT official said, "We are continuously improving the user experience (UX) of MINTIT ATM to make it more convenient and easier for customers, and we are also upgrading the automated equipment lines at the 'Icheon Recycling Center.' We will continue to advance our business with customer convenience as the top priority and solidify our position as the No. 1 player in the domestic used phone market."
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