Kakao Pay Archives | Be Korea-savvy
Kakao Pay Moves to Rapidly Compensate Victims of Identity Theft

Kakao Pay Moves to Rapidly Compensate Victims of Identity Theft

SEOUL, July 6 (Korea Bizwire) – Kakao Pay, a mobile payment platform operated by South Korean IT behemoth Kakao Corp., will be introducing a more customer-friendly policy in the event of identity theft, which is on the rise as consumer payment patterns shift online. According to sources knowledgeable with the company, Kakao Pay will offer [...]

New Year Money Envelopes Go Digital with Kakao Pay

New Year Money Envelopes Go Digital with Kakao Pay

SEOUL, Feb. 3 (Korea Bizwire) — Kim Seung-hwa usually visits banks at this time of year to get crisp new bills to prepare to give Lunar New Year’s cash gifts to her relatives. This year, the 37-year-old office worker in Seoul deposited 300,000 won (US$267) in her digital wallet, Kakao Pay, so she could wire [...]

Kakao Pay to Allow Users to ‘Sprinkle’ Their Cash with Friends

Kakao Pay to Allow Users to ‘Sprinkle’ Their Cash with Friends

SEOUL, Dec. 4 (Korea Bizwire) — Kakao Pay announced on Monday that it will be adding a ‘sprinkle’ service using its money-wiring function. The ‘sprinkle’ service allows a user to share a certain amount of money with their friends in a KakaoTalk chatroom. The user first selects the number of recipients and the amount of [...]

Kakao Pay’s Investment Products Sell Out on 1st Day

Kakao Pay’s Investment Products Sell Out on 1st Day

SEOUL, Nov. 20 (Korea Bizwire) — Kakaopay Corp., a South Korean mobile payment platform provider, said Tuesday that four investment products sold out in just four hours and 20 minutes on the first day of launch. On Monday, the company said it will launch a new service called Kakao Investment, allowing users to invest in [...]

P2P Money-transfer Service Marks Exponential Growth in 2017

P2P Money-transfer Service Marks Exponential Growth in 2017

SEOUL, Aug. 14 (Korea Bizwire) — The amount of money transferred via South Korea’s P2P service applications surged nearly five times on-year in 2017 on the back of its growing popularity among young customers, the financial watchdog said Tuesday. According to the data compiled by the Financial Supervisory Service (FSS), the amount of transactions via [...]

Kakao Corp. to Launch Debit Cards to Compete in Offline Payment Market

Kakao Corp. to Launch Debit Cards to Compete in Offline Payment Market

SEOUL, Jan. 5 (Korea Bizwire) — Kakao Corp., the operator of the country’s top mobile messenger service Kakao Talk, will launch debit cards next week to jump into the offline payment business, company officials said Friday. Promotional events are already under way before the official launch Wednesday for the debit cards that will be linked [...]

Credit Card Companies to Roll Out Modifications to Enable “Going Dutch”

Credit Card Companies to Roll Out Modifications to Enable “Going Dutch”

SEOUL, Sept. 20 (Korea Bizwire) – After holding talks with CEOs of credit card companies in July and August, the Financial Services Commission (FSC) publicly disclosed that modifications to payment processing procedures will be implemented. One of the key points of the announced modifications is a system that will allow groups of restaurant-goers to split [...]

Kakao Pay Institutes QR Code Payment System

Kakao Pay Institutes QR Code Payment System

SEOUL, Sept. 20 (Korea Bizwire) – Kakao has announced that it has added QR code identification technology that will enable users to process payments with a simple snapshot to its Kakao Pay service.  The technology is currently available on Kakao’s Chinese counterparts Alipay and WeChat Pay. Users snap photos of QR cards in shops and [...]