SEOUL, Sept. 6 (Korea Bizwire) – Kakao Inc. said on September 5 that it would officially launch “KakaoPay,” a service to allow its members to make easy payments with their mobile devices. KakaoPay users can make small payments with the simple entry of a password on their smartphone after registering with the service with their credit card number and password.
Any smartphone user with devices whose operating system is Android version 4.6.5 can use the service after downloading the app. The Apple iOS version will be available from next month.
Existing mobile payment services were unwieldy as users were required to type in payment information for each transaction and download a variety of plug-in programs such as ActiveX and keyboard security patches. In contrast, KakaoPay requires only the pre-registered password.
The service also allows users to register for up to 20 credit cards and debit cards, thereby making it more convenient for multiple cardholders. The cards currently available for use are BC Card, Hyundai Card and Lotte Card. Kakao will expand the range of credit and debit cards available for use in the future.
By M.H. Lee (email@example.com)