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Mobile Payments

KakaoTalk launches KakaoPay m-payment service

Tuesday 9 September 2014 | 10:29 AM CET

KakaoTalk, a mobile instant messaging application for smartphones, has launched a mobile payment service dubbed KakaoPay.

KakaoPay allows users of the messaging app to pay using their KakaoTalk account for certain products they buy online. KakaoPay is expected to support debit and credit cards from a number of South Korean financial institutions. Users can register and use up to 20 different non-corporate debit and credit cards inside the KakaoPay account. Moreover, users can find KakaoPay in the updated KakaoTalk app, under the settings tab. It’s currently available for Android devices in South Korea only.

South Koreans can now start using KakaoPay to make online purchases in KakaoTalk’s mobile marketplace to buy vouchers in the in-app Gift Shop. The company is planning to extend KakaoPay’s service by working together with home shopping channels, ecommerce sites and offline channels.

KakaoTalk is battling Line, WeChat, WhatsApp, and many other messaging apps in South Korea and some other markets across Asia.

More: Link
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