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[Alpha Biz=(Chicago) Reporter Paul Lee] Kakao Pay announced on the 2nd that its trading volume in the first quarter of this year was KRW 32.5 trillion. The figure is up 19 percent from a year earlier.

Consolidated sales rose 14.7% year-on-year to 141.5 billion won. Kakao Pay explained that this is the result of double-digit growth in all business sectors, including the payment and financial sectors.

The payment sector increased 11.2% year-on-year due to an increase in transactions in offline and overseas payment areas. The financial sector rose 29.3% on-year on the back of a recovery in loan brokers and an increase in Kakao Pay Securities' MTS trading volume.

However, during the same period, Kakao Pay's operating loss rose 1106.4% year-on-year to 13 billion won. Net loss during the term also turned to a deficit of 2.4 billion won. This is due to operating costs of KRW 154.5 billion, up 24.2% from the same period last year. Kakao Pay achieved a net profit of 3.8 billion won in the first quarter of last year and a surplus of 34.1 billion won in the fourth quarter.

Monthly active users (MAU) increased by 10% to 23.61 million. The number of transactions per user increased 4% year-on-year to 103. The number of Kakao Pay franchises, the main infrastructure of the payment business, has increased to 1.96 million, up 30% from the same period last year, both in Korea, abroad, and online and offline.

Kakao Pay expects rapid growth in overseas and offline markets in the future.

 

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