Kakao Pay Launches "Business Loan Refinancing" Service

Check All Credit Loans at a Glance with Only Your Resident Registration Number
Automatic Verification of Business and Income Information Without Manual Input
Tailored Financial Services for Small Business Owners

On March 18, Kakao Pay announced the official launch of its "Business Loan Refinancing" service, aimed at lowering the financial barriers faced by small business owners and self-employed individuals, in line with the financial authorities' policy to expand loan refinancing services.

This service enhances "contactless convenience" for small business owners who are often too busy operating their businesses to visit banks or even prepare paperwork. By simply entering their resident registration number, users can have Kakao Pay automatically verify their scattered business loan status, business location information, and business income, making it possible to refinance with ease. Interest rates and limit conditions can also be checked with just a few taps.

The "Business Loan Refinancing" service is available for credit loan products, with six financial institutions—including major first-tier banks—participating. As Kakao Pay boasts more than 22 million MyData subscribers, the largest number among domestic financial platforms, it leverages accumulated data to offer sophisticated, tailored conditions.

This service is accessible through the "Loan" category in the KakaoTalk or Kakao Pay app, and can also be found by selecting the magnifying glass icon in the upper right corner and searching for the service name.

After refinancing, Kakao Pay helps users improve their credit scores through MyData-based features such as "Raise Your Credit Score," and supports them in exercising their right to request lower interest rates in the future. In fact, as of last year, about 4 million users improved their credit scores by an average of 21 points through this service.

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