Kakao Pay and Kakao Pay Securities Launch 'Mini Safe' Service

[Asia Economy Reporter Minji Lee] Kakao Pay and Kakao Pay Securities announced on the 10th that they have launched the ‘Mini Safe’ service, which allows users to temporarily store and manage emergency funds or spare money that is not used immediately.

Unlike expenses that are frequently incurred while using various services such as payments, transfers, and investments, the Mini Safe enables more efficient asset management by separately storing reserve funds that do not yet have a clear purpose but may need to be used soon.

When applying for the Mini Safe, a linked account called Mini Safe is created in the Kakao Pay Securities account to which the charged Kakao Pay Money is automatically transferred, allowing users to set and store the desired amount. The stored money can be easily deposited or withdrawn anytime as needed, and even if kept for just one day, users can receive an annual 0.6% deposit fee paid weekly by Kakao Pay Securities. The basic storage limit is up to 5 million KRW, with the possibility to increase the limit up to 10 million KRW. This service can be applied for on the Kakao Pay home screen within KakaoTalk or in the ‘Asset Management’ service tab of the Kakao Pay app.

To celebrate the launch of the service, a promotion is also underway. Among users who open a Mini Safe and maintain it until the end of November, five will be selected by lottery to receive an emergency fund of 5 million KRW. Users are automatically entered into the promotion upon opening the Mini Safe, and the winners will be individually notified after the promotion ends.

A dice-rolling event that can increase the weekly benefits up to seven times will be held for 12 weeks starting from the launch of the Mini Safe. When a Mini Safe is opened, users receive a dice along with the weekly deposit fee payment, and Kakao Pay Points are additionally awarded based on the multiplier shown on the dice. For example, if the dice number is ‘7’, users receive the annual 0.6% interest on the Mini Safe balance plus Kakao Pay Points equivalent to seven times that amount. The dice faces include ‘1’, ‘3’, ‘5’, ‘7’, ‘Retry’, and ‘Miss’.

Kakao Pay stated, “Through cooperation with Kakao Pay Securities, we are expanding our scope from convenient consumption to efficient asset management, enhancing the completeness of our lifestyle financial platform,” and added, “We hope users experience the convenience of managing everything from spending to saving with just Kakao Pay through the ‘Mini Safe’, which allows accounts to be separated according to purpose within Kakao Pay.”

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