| Kakao Pay | |
|---|---|
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| Developer | Kakao |
| Initial release | September 5, 2014; 11 years ago (2014-09-05) |
| Operating system | Android iOS |
| Platform | Android andiOS devices andWatchOS devices andWear OS devices |
| License | Proprietary |
| Website | www |
Kakao Pay (Korean: 카카오페이) is amobile payment anddigital wallet service byKakao based in South Korea that allows users makemobile payments and online transactions.[1] The service supportscontactless payments usingnear-field communications andQR codes.[2]
Kakao Pay is incorporated intoKakaoTalk, the mobile instant messenger from Kakao.
The payment service first launched on September 4, 2014 with integration with their messaging app,KakaoTalk, allowing people to request and send money to people in their contacts.[3] Since its launch, Kakao has expanded into other financial services by launching their own online bank calledKakaoBank and releasing their owndebit card.[4] In April 2017, KakaoPay Co., Ltd. was established to run the payment services operated by the company.
KakaoPay crossed the 10 million user mark after 20 months since its launch.[5][6] More features have been added to the service like the ability to send remittances, send invoices, and complete online transactions on mobile. With the rapid increase in users and payment transactions, KakaoPay received a $200M investment fromAlibaba'sAnt Financial, the parent company ofAlipay, a mobile payment service in China.[7]
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