Naver Pay will launch its official service on June 25, signaling the launch of a simple mobile payment war with Samsung Pay which is scheduled to be offered in September.
According to Naver on June 24, Naver Pay is a service that allows users to make payments and send money through desktop computers and smartphones if they register their credit cards and bank accounts with the service.
Thus far, Naver has acquired as many as 50,000 merchant stores and plans to continue to add more. Like any other simple payment services, Naver Pay will offset its operating cost with the commissions offered by credit card companies.
Instead of gaining profits through commissions, Naver Pay plans to expand its platform by attracting more users.
Compared to existing simple payment services such as Kakao Pay, Naver Pay plans to provider a higher level of convenience and security, aimed at gaining a strong foothold in the online payment market.
