SEOUL, KOREA - The number of subscribers to KakaoPay, a simplified mobile payment system, has broken the 50,000 level within ten days since launch. It remains to be seen whether the latest service will change the whole landscape of the mobile payment market.

 

According to Kakao Inc. on September 16, its KakaoPay has seen the subscriber number accelerate to the level of 50,000 since the 5th. On the 15th alone, the per-hour number of new subscribers was 1,600 while it was up to 2,000 on the 16th.

 

A Kakao official said, "Even though we haven't done any marketing promotion since the service launch, the number of subscribers newly signing up is rising faster than we expected. The number is forecast to rise more in October when the network of merchants that take KakaoPay is increasing."

 

KakaoPay allows the user to make payments easily with her credit card and debit card number and password registered on the KakaoTalk app. Currently participating credit card companies include BC Card, Hyundai Card, and Lotte Card.