KakaoPay, First in Industry to Provide Both KCB and NICE Credit Scores

[Asia Economy Reporter Kiho Sung] Kakao Pay announced on the 29th that it will enhance user convenience by being the first in the industry to provide credit scores from both Korea Credit Bureau (KCB) and NICE Information Service (NICE), the leading domestic credit rating agencies.

Kakao Pay revamped its ‘Credit Inquiry’ service to allow users to check scores from not only KCB but also NICE. Among platforms offering ‘Credit Inquiry’ services, Kakao Pay is the first to provide credit scores from both agencies together.

KCB and NICE are the leading institutions in Korea that evaluate individual credit scores, and since their methods of calculating credit scores differ, discrepancies occur between the scores provided by the two agencies. Until now, depending on which credit rating agency a platform was partnered with, the credit scores displayed varied, making it difficult for financial consumers to accurately understand and manage their own information.

Lee Jin, Chief Business Officer (CBO) of Kakao Pay, stated, “To support stable financial activities for consumers, we have become the first in the industry to provide credit scores from both KCB and NICE together,” adding, “We will continue to actively identify and resolve inconveniences faced by financial consumers as a leading lifestyle finance platform and strive to create more beneficial financial services.”

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