SEOUL, Aug. 14 (Korea Bizwire) – Kakao Pay, a leading digital payment service in South Korea, announced on Wednesday that it has ceased sharing user information with Alipay since mid-May, following a controversial breach involving the unauthorized disclosure of personal credit data. In a statement, Kakao Pay revealed that the suspension of information sharing began on [...]
SEOUL, April 27 (Korea Bizwire) — Kakao Pay Corp., the fintech unit of South Korean tech giant Kakao, said Thursday it plans to acquire a controlling stake in Siebert Financial Corp., a U.S. brokerage firm, as part of efforts to expand its financial business abroad. Kakao Pay said in a regulatory filing it has signed [...]
SEOUL, Feb. 14 (Korea Bizwire) — Kakao Pay Corp., the online payment unit of South Korean tech giant Kakao Corp., is expected to see its earnings and share price decline due to Apple Pay’s debut in the country. DB Financial Investment last week downgraded shares of Kakao Pay from “buy” rating to “hold.” Considering that [...]
SEOUL, Feb. 7 (Korea Bizwire) — Kakao Pay Corp., the online payment unit of South Korean tech giant Kakao Corp., said Tuesday it swung to the black last year thanks to increased financial income. Kakao Pay logged a net profit of 27.5 billion won (US$22 million) on a consolidated basis in 2022, turning from a [...]
SEOUL, Dec. 15 (Korea Bizwire) — Kakao Pay Corp., the online payment unit of South Korean tech giant Kakao Corp., said it has launched a mobile-based certified mail service that provides proof of originality for e-documents, thus having the same effect as certified mail. The new service, the first of its kind in the domestic [...]
SEOUL, June 10 (Korea Bizwire) — Shares of South Korean mobile payment service Kakao Pay Corp. have plunged following the stock sales through block deal by Alipay Singapore Holdings Pte, which is the company’s second-largest shareholder. Kakao Pay employees owning company stock, in turn, are seeing significant losses. On Wednesday, Kakao Pay shed 15.19 percent to [...]
SEOUL, Nov. 3 (Korea Bizwire) — South Korean mobile payment service Kakao Pay made a successful stock market debut on Wednesday, closing sharply higher than its initial public offering (IPO) price. The payment arm of Kakao Corp., South Korea’s top messenger app, closed at 193,000 won (US$163.28), up 7.22 percent from its opening price of [...]
SEOUL, April 26 (Korea Bizwire) — Kakao Pay, the mobile payment service arm of South Korea’s top messenger app Kakao Corp., filed for preliminary approval of an initial public offering on the main bourse KOSPI, the Korea Exchange said Monday. The filing by the fintech firm is expected to be cleared around the end of [...]
SEOUL, Jan. 5 (Korea Bizwire) — Kakao Pay Corp., South Korea’s No. 1 mobile payment service provider, said Monday that it took its first step into the insurance market by applying for preliminary approval for a digital non-life insurance service. Kakao Pay aims to obtain final approval and launch the digital non-life insurance business by [...]
SEOUL, Sept. 28 (Korea Bizwire) — South Korea’s No. 1 mobile payment service provider, Kakao Pay, is pushing for an initial public offering during the first half of next year, industry sources said Monday. To that end, Kakao Pay has recently chosen local brokerage KB Securities as the lead manager and is preparing to win [...]