Last Year, Delivery App Payment Volume Reached 12.2 Trillion KRW... 75% Increase Compared to Previous Year
WiseApp Announces Estimated Payment Amounts for Major Delivery Apps in 2020
[Asia Economy Reporter Kim Cheol-hyun] The payment volume of major delivery applications (apps) last year was estimated to have reached 12.2 trillion KRW. This figure does not include on-site payments, phone orders, or payments made through Coupang Eats, so the actual payment volume for delivery apps is expected to be even larger.
On the 26th, app analysis service WiseApp announced the results of a survey on the payment amounts of major delivery apps last year. The survey sampled payments made by Korean individuals aged 20 and over using credit cards, debit cards, bank transfers, and mobile micropayments on major delivery apps operated by Woowa Brothers and Delivery Hero Korea, namely Baedal Minjok (Baemin) and Yogiyo.
The combined payment amount for Baemin and Yogiyo last year was estimated at 12.2008 trillion KRW, a 75% increase from 6.9527 trillion KRW the previous year. Considering that the payment amount for the two apps was 3.9287 trillion KRW in 2018, the scale has more than tripled in two years. Notably, the payment amount for Baemin and Yogiyo in December, the most recent month, reached a record high of 1.4407 trillion KRW.
The survey results exclude payment amounts from teenagers, phone orders, on-site payments, Coupang Eats, KakaoTalk Order, and other small to medium-sized delivery apps. WiseApp explained that including these excluded payments would make the actual delivery app market size even larger.
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The number of delivery app users also reached an all-time high. According to WiseApp’s survey of Korean Android and iPhone (iOS) smartphone users aged 10 and above, in December last year, Baemin had 13.73 million users, Yogiyo had 7.17 million users, and Coupang Eats had 2.58 million users, with all three apps recording their highest user numbers ever.
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