Kakao Pay and Shinhan Financial Selected as Operators of 'Seoul Love Gift Certificate' with 400,000 Merchants

[Asia Economy Reporter Kiho Sung] Kakao Pay announced on the 25th that the consortium formed with Shinhan Financial Group has been selected as the operating business entity responsible for the sales, payment, and settlement of the Seoul Sarang Gift Certificate.

The Seoul Metropolitan Government announced the day before that the ‘Shinhan Consortium,’ organized by Kakao Pay and Shinhan Financial, was awarded the contract as the new sales agency managing 400,000 affiliated stores and 1.83 million users. The consortium includes four companies: Kakao Pay, Shinhan Card, Shinhan Bank, and T-money. These four companies will jointly execute the Seoul Sarang Gift Certificate project for two years starting from January next year.

Kakao Pay plans to establish the payment environment for affiliated stores and support services such as policy promotion notification messages. Additionally, to attract and promote overseas tourists, it will also support Alipay global payment services.

Kakao Pay stated, “We are pleased to utilize Kakao Pay’s technology and know-how to help Seoul Sarang Gift Certificate become a lifestyle economy platform for citizens,” and added, “In line with our corporate philosophy of beneficial finance for everyone, we will do our best to contribute to both consumer convenience and increased sales for affiliated stores.”

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