Naver Choi Soo-yeon "expects a full-fledged effect of Samsung Pay from the second quarter"
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-05-09 06:06:33
[Alpha Biz=(Chicago) Reporter Kim Jisun] Choi Soo-yeon, CEO of Naver, predicted that Naver Pay's Samsung Pay linkage effect will begin in earnest from the second quarter.
"The payment account was expanded to 3 million offline merchants nationwide by adding Samsung Pay's MST payment function within the on-site payment of the Naver Pay app at the end of March," CEO Choi Soo-yeon said in a first-quarter earnings conference call on the 8th. "We showed excellent initial response, ranking No. 1 in the Google Android market right after launch."
CEO Choi explained, "The effect of offline payment expansion due to the addition of Samsung Pay's MST payment function within Naver Pay's on-site payment is expected to begin in earnest in the second quarter."
According to Naver, Naver Pay's payment amount in the first quarter reached KRW 13.4 trillion, up 19.2% from a year earlier. Among them, foreign payments rose 32% year-on-year to 5.4 trillion won due to the addition of large new franchises such as Timon and T-Money and strong overseas travel-related industries.
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