[Click eStock] "Danal, the Biggest Beneficiary of Untact Payment"

The Only Comprehensive PG Company in Korea Expanding into Mobile Payment, Credit Card, Cryptocurrency, and Simple Payment

[Asia Economy Reporter Kum Bo-ryeong] Danal has been analyzed as the biggest beneficiary of social distancing and non-face-to-face (untact) payments due to the novel coronavirus infection (COVID-19).

According to KTB Investment & Securities on the 1st, Danal is the only comprehensive payment gateway (PG) company in Korea that has expanded into mobile payments, credit cards, virtual currencies, and simple payments among domestic electronic payment gateway operators.

Danal's total payment amount is increasing due to the rise in untact consumption. Researcher Kim Jae-yoon of KTB Investment & Securities explained, "Mobile payments have been used as an alternative for groups that find it difficult to use cards and simple payments, showing a steep increase in payment amounts within delivery applications such as Baedal Minjok and Coupang," adding, "The monthly payment amount of Baedal Minjok in August is estimated to have increased by more than 25% compared to January."

The second-quarter performance, which first reflected the impact of COVID-19, showed sales of 57.1 billion KRW, an 18% growth compared to the previous year. The implementation of social distancing level 2.5 in the metropolitan area, which restricts the use of restaurants and cafes, is expected to further accelerate the increase in payment amounts in the second half of the year. The exclusive Samsung Pay mobile payment PG business is also expected to be reflected in performance from the second half of this year as the number of affiliated stores expands.

Additionally, Danal is classified as a beneficiary of Kakao Games' growth. Researcher Kim said, "Danal is the mobile payment PG provider for Kakao Games, which is scheduled to be listed this month," and analyzed, "Since 2015, Danal has been responsible for Kakao Games' mobile payment PG, and after the listing, it is expected to emerge as a beneficiary of the increase in in-game payment amounts due to Kakao Games' growth."

This content was produced with the assistance of AI translation services.