KakaoPay

 

According to the information technology and credit card industries on Dec. 31, KakaoPay has recently accelerated the expansion of its affiliated stores program. Kakao Pay at first saw a low participation rate of credit card companies and affiliated stores when the service was launched.

KakaoPay is planning to pursue a strategy to take the lead in the mobile payments industry this year in earnest, including attracting substantial participation from an additional 50 affiliated stores.

At the first stage of the launch, not many credit card companies decided to team up with its service. However, as Shinhan Card, the country’s largest credit card company, decided to join as the last partner, consumers can use all credit cards as their methods of payment. Also, starting from Nov. 17, its service has been available on the iOS version with an update to KakaoTalk, allowing even iPhone users to use KakaoPay. However, current iPhone users can use all credit cards except Hyundai Card, and Hyundai Card will be added soon.

Currently, there are no official statistics for the number of KakaoPay subscribers, but the industry estimates that its figures surpass about two million. Also, “KakaoTaxi”, a cab-hailing mobile service based on KakaoTalk, will be released in the first quarter of 2015, and its methods of payment are highly likely to be linked to KakaoPay and Bank Wallet Kakao.

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