Kakao Pay Securities Surpasses 5 Million Account Openings

[Asia Economy Reporter Minji Lee] Kakao Pay Securities announced on the 6th that the cumulative number of account holders has surpassed 5 million.

The cumulative number of Kakao Pay Securities account holders has increased more than threefold in one year. It exceeded 1 million in May last year, 2 million in September, 3 million in December, 4 million in March this year, and surpassed 5 million by the end of July. Kakao Pay Securities account holders represent one out of every five economically active people in South Korea.

Kakao Pay Securities accounts are significant as active accounts where Kakao Pay Money deposits and withdrawals occur frequently, and linked services with the Kakao Pay platform such as fund investments, Mini Safe, and Bucket List are actively used.

As of the end of July, about 1.89 million users have experienced fund investments through Kakao Pay Securities accounts, accounting for 40% of all account holders. The number of fund subscription accounts is currently the highest in the industry. According to statistics from the Korea Financial Investment Association, as of the end of June, the number of public fund subscription accounts for individual customers at Kakao Pay Securities was 2.06 million, more than 2.5 times that of the second-largest securities firm. Contrary to the industry-wide trend of declining fund sales following the recent implementation of the Financial Consumer Protection Act, Kakao Pay Securities has steadily increased sales by offering new investment methods and user-centered UX, contributing to the revitalization of public funds.

Additionally, 92.7% of Kakao Pay Securities fund investors have formed new investment habits of steadily saving in daily life. Features such as ‘Coin Collection,’ where leftover change after Kakao Pay payments is automatically invested in funds, ‘Reward Collection,’ which invests rewards received after payments, and the rapidly increasing number of users setting up ‘Auto Investment’ to accumulate fixed amounts weekly or monthly, are all contributing factors. The number of users experiencing installment investments through Kakao Pay Securities has increased more than fivefold compared to the same period last year.

The ‘Mini Safe’ account, which allows users to separate and store emergency funds or surplus money in a separate account, has seen 600,000 accounts opened since its launch in November last year. The ‘Bucket List’ service also averages 14,000 new accounts opened monthly, establishing itself as a service that enables many users to achieve financial goals with small amounts without burden.

Kakao Pay Securities accounts will be directly linked to the MTS (Mobile Trading System) scheduled for release within the year, maximizing user convenience. After the MTS launch, Kakao Pay Securities plans to allow users to trade stocks immediately with their existing accounts without the inconvenience of opening additional accounts. From the launch, the goal is to provide an environment where over 5 million users can naturally expand their investment experience to stocks, enhancing convenience.

Kakao Pay Securities’ MTS will be integrated into the Kakao Pay platform without a separate app, similar to the currently provided fund services. It will include various functions for domestic and international stock trading within the Kakao Pay app, while relatively lightweight features will be added to KakaoTalk to offer a new user experience.

Kim Daehong, CEO of Kakao Pay Securities, stated, “We were able to surpass 5 million account holders rapidly by connecting daily life and investment and providing differentiated user experiences. As demonstrated through funds, we will introduce an MTS that reflects Kakao Pay Securities’ unique identity within the year and lead the spread of a new investment culture.”

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