Kakao Pay Acquires Contactless Simple Payment Service Paymint... Strengthening Offline Business
Kakao Pay has acquired the contactless payment company Payment.
According to industry sources on the 30th, Kakao Pay recently completed the acquisition of Payment. The acquisition was decided as part of strengthening its offline payment business. Payment was established in 2014, and its main product, 'Gyeoljesunsaeng,' eliminates differences in fees and settlement structures between online and offline payment types.
Kakao Pay acquired the majority of Payment's shares, incorporating it as a subsidiary, and it is known that Payment's management remains in place to continue responsible management.
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A Kakao Pay official stated, "The acquisition amount is not at a level subject to disclosure (2.5% of consolidated assets)."
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