[Click eStock] "Danal, Highlighted as a Payment Beneficiary Stock Following Coupang's IPO"

[Asia Economy Reporter Hyunseok Yoo] KTB Investment & Securities analyzed on the 16th that Danal is expected to emerge as a beneficiary in payments following Coupang's listing on the U.S. stock market. No investment opinion or target price was provided.

Danal is a comprehensive PG company covering mobile phone payments, credit cards, virtual currencies, and simple payments. Due to increased untact consumption amid COVID-19 last year, it recorded cumulative sales of 171.7 billion KRW and operating profit of 12.1 billion KRW in the third quarter.

Jae-yoon Kim, a researcher at KTB Investment & Securities, said, "Mobile phone payments are used as an alternative for groups who find it difficult to use cards and simple payments, showing a steep increase in payment amounts on platforms such as Coupang and Baedal Minjok," adding, "Danal is the No. 1 mobile PG provider within Coupang."

He added, "Following consultations with Coupang in 2021, the market share within Coupang expanded from 50% to over 60%, and it is expected that the increase in Coupang's own transaction volume and the expansion of market share within Coupang will be reflected simultaneously."

Along with this, Kim explained that attention should also be paid to the cryptocurrency business. He said, "In addition to the existing mobile PG, a new cryptocurrency business is progressing rapidly," and added, "Danal issued the cryptocurrency Paycoin (PCI), which enables real payments at its affiliated stores, through its subsidiary Paycoin."

He emphasized, "Paycoin's payment platform, Pay Protocol, has surpassed 900,000 members, recording more than a threefold increase in members compared to early 2020, and currently has about 60,000 affiliated stores, securing a leading position in the domestic cryptocurrency payment platform market," and added, "In the future, Danal's Pay Protocol can add real payments for major coins such as Bitcoin and Ethereum, so benefits from Bitcoin price increases are also expected."

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