Global partnership & subsidiary utility…‘Local simple pay’ to enter overseas market
Kim Soo Yeon | newsnews@ | 2017-08-01 10:34:58
The domestic simple payment app is now expanding its growth overseas based on partnering with a local settlement service or by taking advantage of overseas services of its subsidiaries.
According to the related industry sources on July 31, Naver has been expanding its outsourcing service through subsidiary services that are well-known overseas, in a way that Kakao and Samsung Electronics collaborate with overseas high-end payment services. NHN Entertainment has also opened up the possibility of expanding its easy payment service to overseas markets, and its subsidiary services are expected to become a stepping stone. The common strategy is to expand the user base and increase the transaction value.
Especially, Kakao, Naver, and NHN entertainment, which have platforms such as Kakao Talk, Line, and Comico, are anticipated to have a positive impact on content sales on each platform. It is predicted that the expansion of simple settlement will be a positive factor for smartphone handset sales in the US in the case of Samsung Electronics, the maker of smartphones.
Kakao Pay, a subsidiary of Kakao FinTech, is in the process of linking services between Alipay and Kakao Pay. When the world Alipay user makes a simple settlement in the local store of Alipay merchants in Korea, it connects to the Kakao pay. With the cumulative number of subscribers of 1600 million Kakao Pay and 450 million users, Alipay will be able to use Kakao Pay`s simple settlement service at 34,000 domestic merchants in Alipay once the system integration is completed. Noteworthy is the introduction of the automatic payment system through the Kakao Pay in the end of the year. It is now possible for Chinese tourists to pay the taxi fare in Alipay through taking a taxi to the Kakao, then shopping in Alipay at the Kakao Pay merchant store. In the case of domestic users, it is expected that Kakao Pay will be available at overseas merchants linked to Alipay Alliance Service. Currently, Kakao is employing an offline payment service planner to integrate its payment system with Alipay.
Meanwhile, Samsung Electronics has partnered with PayPal, a fast-paced payment service in the United States. PayPal has cumulative domestic transaction worth KRW 4 trillion (January, 2017).
The two companies will link PayPal accounts to the Samsung PayPal payment platform. Users will be able to use PayPal at the online and offline merchants when Samsung Pay users register their PayPal account with Samsung Pay. If the PayPal account is used to activate Samsung Pay, it is expected that Samsung Electronics will be able to raise Samsung F & M`s sales and local sales of the Galaxy smartphone at the same time.
On the other hand, Naver is expanding its presence in Japan with Line Pay, a simple payment service within its mobile messenger line. Line Pay is regarded as a simple payment service widely used in the local market with Rakuten Pay and Origami Pay, thanks to the popularity of the `National Messenger` line, which has 68 million users in Japan.
According to Naver, currently 30 million people in Japan are using Line Pay, which accounts for 79% of the world Line Pay users. The volume of distribution through Line-through has reached 78 billion yen (about 781.9 billion won, May). Line music, and Manga (e-books and Webtoons), which are on line, are leading the growth of Line-Pay. Starting in August, delivery food order service (Line Derima) will also be added, contributing to the increase in line-pays.
NHN ENTER, which also offers Payco through its subsidiary NHN Payco is also opening up the possibility of entering the overseas market. A company representative said, "We do not have a plan right now, but we are planning to expand our business to the world." In the industry, NHN Comico`s entertainment platform, which is a subsidiary of NHN ENTER, is expected to be a stepping-stone for Comico to advance into overseas markets. Comico is Japan`s No. 1 webtoon service with 16,000 comments and 18 million comments since its launch in Japan in 2013. Taiwan, Korea, Thailand, Spain, etc., and 25 million global downloads.
By Kim Soo Yeon newsnews@
[ copyright ⓒ The Digitaltimes ]
According to the related industry sources on July 31, Naver has been expanding its outsourcing service through subsidiary services that are well-known overseas, in a way that Kakao and Samsung Electronics collaborate with overseas high-end payment services. NHN Entertainment has also opened up the possibility of expanding its easy payment service to overseas markets, and its subsidiary services are expected to become a stepping stone. The common strategy is to expand the user base and increase the transaction value.
Especially, Kakao, Naver, and NHN entertainment, which have platforms such as Kakao Talk, Line, and Comico, are anticipated to have a positive impact on content sales on each platform. It is predicted that the expansion of simple settlement will be a positive factor for smartphone handset sales in the US in the case of Samsung Electronics, the maker of smartphones.
Kakao Pay, a subsidiary of Kakao FinTech, is in the process of linking services between Alipay and Kakao Pay. When the world Alipay user makes a simple settlement in the local store of Alipay merchants in Korea, it connects to the Kakao pay. With the cumulative number of subscribers of 1600 million Kakao Pay and 450 million users, Alipay will be able to use Kakao Pay`s simple settlement service at 34,000 domestic merchants in Alipay once the system integration is completed. Noteworthy is the introduction of the automatic payment system through the Kakao Pay in the end of the year. It is now possible for Chinese tourists to pay the taxi fare in Alipay through taking a taxi to the Kakao, then shopping in Alipay at the Kakao Pay merchant store. In the case of domestic users, it is expected that Kakao Pay will be available at overseas merchants linked to Alipay Alliance Service. Currently, Kakao is employing an offline payment service planner to integrate its payment system with Alipay.
Meanwhile, Samsung Electronics has partnered with PayPal, a fast-paced payment service in the United States. PayPal has cumulative domestic transaction worth KRW 4 trillion (January, 2017).
The two companies will link PayPal accounts to the Samsung PayPal payment platform. Users will be able to use PayPal at the online and offline merchants when Samsung Pay users register their PayPal account with Samsung Pay. If the PayPal account is used to activate Samsung Pay, it is expected that Samsung Electronics will be able to raise Samsung F & M`s sales and local sales of the Galaxy smartphone at the same time.
On the other hand, Naver is expanding its presence in Japan with Line Pay, a simple payment service within its mobile messenger line. Line Pay is regarded as a simple payment service widely used in the local market with Rakuten Pay and Origami Pay, thanks to the popularity of the `National Messenger` line, which has 68 million users in Japan.
According to Naver, currently 30 million people in Japan are using Line Pay, which accounts for 79% of the world Line Pay users. The volume of distribution through Line-through has reached 78 billion yen (about 781.9 billion won, May). Line music, and Manga (e-books and Webtoons), which are on line, are leading the growth of Line-Pay. Starting in August, delivery food order service (Line Derima) will also be added, contributing to the increase in line-pays.
NHN ENTER, which also offers Payco through its subsidiary NHN Payco is also opening up the possibility of entering the overseas market. A company representative said, "We do not have a plan right now, but we are planning to expand our business to the world." In the industry, NHN Comico`s entertainment platform, which is a subsidiary of NHN ENTER, is expected to be a stepping-stone for Comico to advance into overseas markets. Comico is Japan`s No. 1 webtoon service with 16,000 comments and 18 million comments since its launch in Japan in 2013. Taiwan, Korea, Thailand, Spain, etc., and 25 million global downloads.
By Kim Soo Yeon newsnews@