Kakao Pay Monthly Transaction Volume Surpasses 10 Trillion Won: "10x Growth in 4 Years"

Transaction Volume Exceeds 27 Trillion Won in 1Q This Year

[Asia Economy Reporter Minwoo Lee] The monthly transaction volume of KakaoPay, a simple payment service, has surpassed 10 trillion won for the first time. It has grown tenfold in about four years.

KakaoPay announced on the 15th that excluding stock trading volume, transactions on the KakaoPay platform exceeded 10 trillion won last month. It has been about four years since the monthly transaction volume first exceeded 1 trillion won in March 2018, the year after its spin-off. Quarterly transaction volume also surged. After surpassing 10 trillion won for the first time in the first quarter of 2019, 27.2 trillion won was traded in the first quarter of this year. Last year's annual transaction volume reached 99 trillion won.

It was explained that transaction volume grew evenly across all service areas including payment, remittance, loan brokerage, investment, insurance, and asset management. In particular, the usage rate of payment and financial services, which generate revenue, steadily increased.

As of the end of the first quarter, the cumulative number of KakaoPay subscribers reached 37.88 million, accounting for more than 80% of the population aged 15 and over in South Korea. The monthly active users (MAU) who actually conduct transactions within KakaoPay were counted at 21.56 million.

It is expected that additional growth will be possible as the subsidiary KakaoPay Sonhae Insurance officially launches its service in the second half of the year. A KakaoPay official stated, "Based on technology that combines convenience and stability, as well as a broad collaboration ecosystem both domestically and internationally, we will advance as a lifestyle financial platform for the entire nation."

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