SEOUL, Aug. 13 (Korea Bizwire) — Kakaopay Corp. has provided credit information of its users to China’s Alipay without the required customer consent, the financial regulator said Tuesday, an allegation quickly dismissed by the South Korean platform. The Financial Supervisory Service (FSS) said its inspection of South Korea’s leading mobile payment platform in April and [...]
SEOUL, Jan. 11 (Korea Bizwire) – KakaoPay, South Korea’s popular payment platform, has witnessed an astonishing 14-fold increase in transactions made by foreign tourists within a year. This surge is attributed to the rise in international visitors in the post-COVID era and the expansion of KakaoPay-affiliated merchants linked to foreign fintech (payment) services. According to the [...]
SEOUL, Sept. 10 (Korea Bizwire) — Kakaopay Corp., a financial unit of tech giant Kakao Corp., will suspend its car insurance comparison service later this month after providing an unauthorized brokerage service, industry sources said Friday. Kakaopay’s service to help customers find the best deal among six partnered car insurers, including Hyundai Marine and Fire [...]
SEOUL, Aug. 27 (Korea Bizwire) — An increasing number of South Koreans are using mobile wiring services to send cash gifts as the second wave of the coronavirus is preventing South Koreans from holding wedding ceremonies and other events offline. KakaoPay, a mobile payment service integrated with KakaoTalk, South Korea’s No. 1 messenger app, reported [...]
SEOUL, May 20 (Korea Bizwire) — Kakaopay Corp. said Monday that it will expand its offline payment business to solidify its status as South Korea’s leading fintech service platform provider. Kakaopay said it plans to launch its own application within this year so that more users can use credit cards through the one-click payment system [...]
SEOUL, Jan. 23 (Korea Bizwire) — KakaoPay Corp., a South Korean mobile payment platform, surpassed 20 trillion won (US$17.6 billion) in annual transactions last year for the very first time since its launch in September 2014. Transaction volume jumped by more than five times compared to the previous year (US$3.35 billion). Analysts say that KakaoPay [...]
SEOUL, April 3 (Korea Bizwire) — The amount of payments made electronically hit a fresh record high last year amid a growing trend of South Koreans using the Internet and mobile devices to carry out their financial transactions, central bank data showed Tuesday. The daily average for electronic financial transactions came to 468.8 billion won [...]
SEOUL, Oct. 27 (Korea Bizwire) – The number of users for Kakao’s simple payment service Kakaopay has reached 20 million, a first for the South Korean fintech industry, according to the company. Kakao Pay said its user base reached 20 million on Thursday, and explained that despite Naver Pay boasting a larger user base, its [...]
SEOUL, Jul. 26 (Korea Bizwire) — Kakao Corp’s money transfer service KakaoPay is growing rapidly, with over 80 billion won transferred through the service in July alone. KakaoPay is a service that allows users of the KakaoTalk messenger to transfer money to each other via messages in the form of Kakao money, the platform’s own [...]
SEOUL, April 11 (Korea Bizwire) – Korean internet giants Naver and Kakao are battling to take the lead in O2O (online to offline) businesses. Due to a limited number of different kinds of business opportunities to tackle in the IT industry, the projects laid out by the two companies are often in conflict. However, since the two [...]