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Kakao Pay: The API-Based Payment System for Franchisees and Melon Users

By January 25, 2017 at 10:06 am
KakaoTalk (Photo : PARK JI-HWAN/AFP/Getty)

Kakao Corp. has officially announced the arrival of Kakao Pay for Melon users and franchisees. The new API-based payment service will serve consumers who use Melon, a digital music service under the company.

What is Kakao Pay?

According to Tech for Korea, Kakao Pay is established under in-house technology. Payment Gateway companies will be involved in the process of paying Melon fees. Consumers can utilize their credit cards to make the payments. Kakao Money is another option that users can make use of.

Other Options

Those who prefer combined payments can always do so. Franchisees are also given expanded options when it comes to payments. The payment options include one-time billing, recurring billing, and more. Recurring billing is especially helpful for those who will use Kakao Pay due to the nature of the industry in terms of music streaming.

The best thing about Kakao Pay is, the need to download separate payment apps is eliminated. The payment system is already built-in with KakaoTalk. Franchisees who are still starting with their businesses can choose from a range of payment method options through the Kakao Developer Page as well.

Over 10 Million Users

Last year, The Korea Herald reported that Kakao Pay already has over 10 million subscribers. The system was first launched in September 2014 and since then, numerous business-minded consumers have logged in to the payment service. There are around 50 million KakaoTalk users around the globe and it is expected that more consumers will subscribe to Kakao Pay in the coming months.

Why Users Love Kakao Pay

While there are other payment apps in the market, Kakao Pay has managed to grab the attention of its users. The service promises safe transactions and easy money transfers. There are no digital certifications needed for users to accomplish before they can use the service. Basically, it's something that KakaoTalk users can explore whenever they want.

It is estimated that there are around 40 million active Koreans who use Kakao Pay. Global estimates, on the other hand, reveal that there are about 55 million international subscribers to the service. Learn more about Kakao Corp. and its services here.

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