KakaoPay – reaching 10million users in Mobile Payment (South Korea)

kakao-pay

KaKaoPay is the online payment solution launched as collaboration between DaumKakao and LG CNS. By combining Kakaotalk’s massive users reaching 40M and LG CNS’ patented mobile payment technology, Kakaopay has been ranked top in mobile convenient payment industry after its launching.

The base solution backing up the KakaoPay is MPay, LG CNS’s Mobile Payment Solution. MPay is the only solution that has been approved its highest security level by Korean Financial Supervisory Institute with patented Security & OTP technology. MPay’s unique security system protects against security compromises such as a data leakage or a digital hack.  KakaoTalk is the messaging app of choice of 97% of Korea’s smartphone users. KakaoPay is now a standard feature of KakaoTalk by embedding MPay module to KakaoTalk. So, every KakaoTalk user can use KakaoPay without downloading additional apps. KakaoPay made complex online-to-offline payments easier and more convenient in Korea. Once the credit card number is registered, the payment can be completed just by typing the PIN code. With more than 8 million registrations since launching in September 2014, KakaoPay has become the Number 1 simple mobile payment service in Korea.

Join UnHo from LGCNS and get his insights on the KaKaoPay development and roll out!
unho-jeong
UnHo is a senior business development professional who developed all the Mobile Payment Solution and KakaoPay from the initial idea to the launch of KakaoPay. Biography:

Developed MPay, LG CNS’s Mobile Payment Solution
Developed Business with Kakao to launch KakaoPay
22 years of Experience in IT Service
Expert in Payment, Fintech, Mobile, O2O
Currently a Business Development Senior in LG CNS
  

  

  • GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @WomeninPayments: #WomeninPayments CEO @duncankristy is speaking tomorrow at the #Asia @GlobalPaySummit in Bali on how Digital Financial… 2 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @HPS_worldwide: Our first day at Asia Global Payment Summit 🇮🇩was a real success with a lot of interactions! Didn't have time to meet o… 2 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Congrats to the winners of our mobile app game challenge during The Africa Global Payment Summit! @nataliemat7 and… https://t.co/215Zaz23OM 2 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @PPRO_Payments: #meetppro @GlobalPaySummit Asia in Bali next week at the Sofitel Bali Nusa Dua Beach Resort! Visit the panel about Alter… 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit At Asia GPS, this session will explore the use of #alternativepayments with a particular focus on #eCommerce market… https://t.co/7l1AdfiA4K 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @MastercardAP: Watch this space next week for more on these #payments solutions! https://t.co/1sWizNQl4b 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit @ThePaypers Always a pleasure working with you! 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @ThePaypers: The Paypers would like to extend a heartfelt word of appreciation to all our collaborators, from thought leaders to media p… 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Next week in Bali: Sandeep Malhotra @MastercardAP will share insights from the world’s only live network-level… https://t.co/bgKf8HHfir 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechINA: With 2 weeks left, Asia @GlobalPaySummit outlined the main reasons why you should join in Bali on 10-11 October. Register n… 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @PPRO_Payments: #meetppro @GlobalPaySummit Asia in Bali from October 10th - 11th at the Sofitel Bali Nusa Dua Beach Resort! Send us a DM… 3 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Congrats to @AsiaPay @iPayLinks @KYC_Ltd #BCI(Thailand) @HydroBlockchain and @OneIdentity for the nomination and fi… https://t.co/8BhQAJEi3m 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @iPayLinks: iPayLinks was just nominated in Florin Asia Innovation Awards 2019 and will be showcasing on October 11th. Come and meet us… 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @smart_insights: We're proudly partnering with @CurrencyResearc as a Media Partner for the 7th edition of Asia Global Payment Summit, @g 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit When ‘hearts and minds’ meet the ‘wallet of the future’ at #asiapaysummit in Bali! Paul Schulte, Schulte-Research w… https://t.co/O4gnSwnXdc 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @HollandFinTech: We're proudly partnering with @CurrencyResearch for the 7th edition of Asia Global Payment Summit, to be held in Bali i… 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit #Fintechs are working alongside #banks to put an end to high fees and lack of transparency in cross-border payments… https://t.co/6Lball9KmU 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @SEACENCentre: The Centre is pleased to announce a collaboration with the organisers of the Asia Global Payments Summit 2019 Asia-GPS. P… 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit We`re looking forward to hosting the 7th edition of Asia Global Payment Summit on 10-11 October 2019 in Bali, Indon… https://t.co/G4hmLpGaSt 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @ecom_asia: Know How E-Commerce Ecosystem Market Is Thriving Continuously By Top Key Players Alibaba, Amazon, https://t.co/cszaBCKQ2z, e… 6 weeks ago
  • Also interesting
    Alternative Payments in eCommerce Markets
    Written on 3 October '19 by
    READ MORE
    War of the Wallets
    Written on 3 October '19 by
    READ MORE
    The Paypers Releases the Open Banking Report 2019
    Written on 2 October '19 by
    READ MORE
  • Speakers 2019