Kakao Pay Securities Surpasses 2 Million Account Openings in 6 Months

[Asia Economy Reporter Minji Lee] Kakao Pay Securities announced on the 7th that the cumulative number of account openings surpassed 2 million just six months after the official service launch. Fund investments have exceeded 4.4 million transactions.

Since the official service launch on February 27, Kakao Pay Securities accounts reached 600,000 in March, 800,000 in April, 1.2 million in May, 1.4 million in June, 1.7 million in July, and have now surpassed 2 million. This represents an average monthly growth rate of 27.8%.

The age range of users is also broadening. As of March, the age distribution of account holders was 68% in their 20s and 30s and 27% in their 40s and 50s, meaning about 7 out of 10 were young adults. Currently, the distribution is 60% in their 20s and 30s and 34% in their 40s and 50s, showing an increase in middle-aged users and a more balanced age distribution.

Fund investments through ‘Dongjeon Mo-eugi’ (Coin Collection), which automatically invests leftover change after payments, and ‘Al Mo-eugi’ (Al Collection), which invests rewards received after payments, are also increasing. In August alone, fund investment transactions increased by 1.5 times compared to July, surpassing 4.4 million transactions, with an average of over 220,000 fund investments made daily.

Along with ‘Dongjeon Mo-eugi’ and ‘Al Mo-eugi,’ applications for ‘Automatic Investment’ are rapidly increasing. Currently, the cumulative number of applications for ‘Dongjeon Mo-eugi’ and ‘Al Mo-eugi’ is 690,000, and for ‘Automatic Investment’ it is 240,000, showing steep growth of 2.2 times and 2.5 times respectively compared to the end of June. The number of fund investors has doubled since the end of June to 600,000, indicating that 30% of Kakao Pay Securities account holders are currently investing in funds.

Kakao Pay Securities is extending the ‘Al Mo-eugi’ promotion until September to allow more users to experience funds. New applicants for ‘Al Mo-eugi’ until the end of September will receive an initial investment support of 1,000 KRW, and can automatically invest in designated funds using Al rewards received after payments made via Kakao Pay. Al rewards are provided up to 30 times per person.

Lee Sang-won, Head of Business Strategy at Kakao Pay Securities, said, “Despite launching amid challenging external conditions such as the spread of COVID-19, users have responded positively to this new platform-based securities service, enabling us to surpass 2 million accounts in a short period.” He added, “We will continue to introduce services combined with the Kakao Pay platform that allow users to easily and enjoyably invest and manage their assets in daily life.”

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