Small and Medium Business Owners' Naver Pay Fees Reduced by Up to 0.2%P

[Asia Economy Reporter Minwoo Lee] Naver Pay fees for small and medium-sized businesses will be reduced by up to 0.2 percentage points (P).

Naver Financial announced on the 26th that starting from the 31st, fees for small businesses will be lowered by 0.2%p, and for medium-sized businesses, fees will be reduced by approximately 0.15~0.05%p depending on their scale. Accordingly, the order management fee for small businesses will decrease from 2.0% to 1.8%, and the payment fee will drop from 1.1% to 0.9%.

Previously, since July 31 of last year, Naver Financial unified the Naver Pay fees that were differentiated by payment methods and applied preferential fees to small and medium-sized businesses. However, under the Specialized Credit Finance Business Act, the obligation to offer preferential fees to small and medium-sized businesses applied only to card payment transactions.

A Naver Financial official stated, "In relation to the recent reduction of card fee rates by the Financial Services Commission, Naver Financial agreed with the policy intent to ease the burden on small and medium-sized businesses and decided to reduce Naver Pay fees. We will continue to alleviate the burdens on SMEs, support their growth in various ways, and take the lead in efforts for mutual growth."

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