Monthly Payment Scale of Delivery Apps Reaches 1.2 Trillion Won... "All-Time High"
WiseApp, August Major Delivery App Service Payment Amount Survey
[Asia Economy Reporter Kim Cheol-hyun] The monthly payment amount on major delivery applications (apps) has been found to exceed 1.2 trillion KRW. On the 8th, app analysis service WiseApp announced the results of its investigation into the payment amounts on major delivery apps in August.
The survey sampled payments made by Korean individuals aged 20 and over from August last year to August this year using credit cards, debit cards, bank 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 bank transfers, business-to-business transactions, cash transactions, gift certificates, and on-site payments were excluded based on consumer payment amounts.
The payment amount for the two companies' delivery apps, Woowa Brothers and Delivery Hero Korea, in the most recent August was estimated at 1.205 trillion KRW, with approximately 16.04 million payers. This figure is higher than the 1.0082 trillion KRW recorded in March, when the spread of the novel coronavirus disease (COVID-19) began in earnest. The number of payers ranked second after March's 16.28 million.
During August alone, those who made payments through delivery apps averaged 3.3 transactions per person, with an average payment of 22,780 KRW per transaction, resulting in a monthly average of 75,151 KRW per person. Both the average number of transactions per person and the average payment amount per person reached record highs.
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The annual market size of the two companies' delivery apps was 4.1 trillion KRW in 2018, 7.1 trillion KRW in 2019, and has already surpassed last year's scale with 7.6 trillion KRW recorded up to August this 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 payment amounts would make the actual delivery app payment amount and market size even larger.
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