Major Delivery Apps Approaching 1 Trillion Won in Monthly Payment Volume
WiseApp, July Major Delivery App Service Payment Amount Survey
[Asia Economy Reporter Kim Cheol-hyun] The monthly payment amount on major delivery applications (apps) was found to be close to 1 trillion KRW. On the 1st, app analysis service WiseApp announced the results of a survey on the service payment amounts of major delivery apps from January to July.
The survey sampled the amounts paid by Korean individuals aged 20 and over using credit cards, debit cards, account transfers, and mobile micropayments on major delivery apps operated by Woowa Brothers and Delivery Hero Korea, including Baedal Minjok, Yogiyo, Baedaltong, and Foodfly. Payments made via corporate cards, corporate account transfers, B2B transactions, cash transactions, gift certificates, and on-site payments were excluded based on consumer payment amounts.
In the most recent July, the payment amount on the two delivery apps operated by Woowa Brothers and Delivery Hero Korea was estimated at 944 billion KRW, with approximately 15.04 million payers. Notably, in March, when the spread of the novel coronavirus infection (COVID-19) intensified, the payment amount reached a record high of 1.0082 trillion KRW, with 16.28 million payers.
As of July, the main user demographics of major delivery apps were 32% in their 20s, 36% in their 30s, 21% in their 40s, and 11% aged 50 and above. The average number of payments per person was 2.8 times, with an average payment amount of 22,254 KRW per transaction, totaling 62,766 KRW per month. Payments more than doubled on weekends and holidays compared to weekdays, with Sunday being the day with the highest payments during the week.
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The payment amount on major delivery apps was 4.1 trillion KRW in 2018, 7.1 trillion KRW last year, and already reached 6.4 trillion KRW by July this year, indicating significant market growth each year. WiseApp explained that these figures exclude payments made by teenagers, simple payments, on-site payments, Coupang Eats, and KakaoTalk ordering, and that including these excluded payments would make the actual delivery app payment amount and market size even larger. Additionally, payment amounts have been increasing since late August due to the resurgence of COVID-19.
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