[Alpha Biz=(Chicago) Reporter Kim Jisun] Tosspay, which is taking over SSG Pay, will compete with Naver Pay, Kakao Pay, and Samsung Pay, the three strongest players in the simple payment market, as offline payments are in full swing.

In particular, attention is being paid to whether Toss could cause a perceptual change in the simple payment market, which has become a "three-power structure" as Naver, Kakao and Toss face off in the simple payment market, which costs an average of 700 billion won a day.

Viva Republica, the operator of the financial platform Toss, said on the 10th that it will start offline payment services for its simple payment service "Toss Pay" at some CU 17,000 convenience stores. Toss is expected to expand Toss Pay's offline franchises to coffee franchises and gas stations in the second half of this year and aggressively expand Toss Pay.

In particular, when Toss completes the acquisition of Shinsegae Group's simple payment services SSG Pay and Smile Pay, Toss Pay's offline payment usage will be expanded to E-Mart, Shinsegae Department Store, Starbucks, CGV and Shilla Hotel.

Toss has been selected as the preferred bidder for the sale of SSG Pay and Smile Pay, and is expected to sign a business transfer contract as early as the end of this month. The number of SSG Pay and Smile Pay subscribers is estimated to be about 9.5 million and 16 million, respectively. The combined number of the two service subscribers is about 25.5 million, and Toss is expected to pursue the offline payment market with aggressive marketing by seeking synergy with SSG Pay and Smile Pay subscribers as much as possible for convenience.

 

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