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Kakao Pay (photo = Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Transactions through Kakao Pay and Naver Pay in the first quarter reached the level of 20% of the total transaction volume of domestic card companies for the same period.
According to financial sources on the 8th, Kakao Pay's transaction volume in the first quarter of this year amounted to 40.9 trillion won, marking a 26% increase compared to the same period last year. Revenue TPV, including revenue-contributing transactions such as payment and loan brokerage services, reached 11.9 trillion won, showing a growth rate of 31%. Among these, payment and financial service transactions increased by 25% and 61%, respectively, compared to the first quarter of last year. Other services such as remittance also continued steady growth at 24%. As a result, Kakao Pay's first-quarter revenue increased by 25% year-on-year to 176.3 billion won, turning a profit of 200 million won.
Naver Pay also recorded a 24.8% increase in payment volume in the first quarter compared to the same period last year, reaching 16.7 trillion won. Particularly, offline payment volume using QR code and Magnetic Secure Transmission (MST) methods surged by 174%. The combined transaction volume of these two simplified payment companies in the first quarter reached a total of 57.6 trillion won, representing approximately 19.8% of the approval amount (290.9 trillion won) of eight domestic card companies during the same period.
While the transaction volume of the two companies compared to the approval amount of domestic card companies was 16.5% in the first quarter of last year, their quarterly proportion has steadily increased.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
