Gmarket Launches Easy Payment Service 'Kyobo Pay' with Kyobo Bookstore

Gmarket has partnered with Kyobo Bookstore to launch the easy payment service 'Kyobo Pay'.

[Asia Economy Reporter Lim Chunhan] Gmarket announced on the 12th that it will launch a simple payment service called 'Kyobo Pay' in partnership with Kyobo Bookstore. This new service, based on Gmarket's SmilePay simple payment technology, is available on the Kyobo Bookstore and Kyobo Hottracks websites and mobile apps.

The service is a merchant-branded payment (PLP) that commercializes the SmilePay simple payment construction model itself. Approximately 16 million SmilePay members can use Kyobo Pay by agreeing to the terms of service just once, without entering additional information. All payment methods registered with SmilePay can be used as is on Kyobo Pay, and by entering a 6-digit password, users can make payments without having to log in to the payment service each time.

When paying with Kyobo Pay, 0.3% of the payment amount is automatically accumulated as SmileCash. The accumulated SmileCash can be used like cash at SmilePay affiliated merchants, including Gmarket, Auction, and Kyobo Bookstore. Existing SmileCash can also be used when paying with Kyobo Pay.

To commemorate the service launch, until the 31st, 2,000 customers who sign up for Kyobo Pay will be selected by lottery to receive 5,000 won in Kyobo Bookstore integrated points. Additionally, when making a first payment of 20,000 won or more with this payment service, 3,000 SmileCash will be accumulated.

A Gmarket official said, “We were able to introduce the merchant-branded payment service, the first in the industry, at Korea’s leading book shopping mall Kyobo Bookstore,” and added, “We plan to expand Kyobo Pay payment services to offline stores in the future and continue to provide enhanced shopping experiences through partnerships with major domestic and international brands.”

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