KakaoPay: South Korean Mobile Payment Platform Reaches Heights With 5M Users

Launched by one of the largest internet companies in South Korea, Daum Kakao, KakaoPay has successfully reached 5 million signups for its mobile payment platform. Launched in September 2014, KakaoPay allows only KakaoTalk users to pay for e-commerce products through KakaoTalk. The users can pre-register their credit and debit cards, and make transactions by typing in their passwords.

According to the company, one KakaoPay user made purchase of more than US$6,400 in a single transaction with 60% of the its ...

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