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[Alpha Biz=(Chicago) Reporter Kim Jisun] Kakao Pay announced on the 1st that its consolidated net loss for the second quarter was KRW 6.2 billion, up 8.6% from the previous year. Kakao Pay explained that the increase in payment fees due to increased sales of payment services had a significant impact. The operating loss was 12.6 billion won, similar to last year's, and the EBITDA (operating profit before deducting corporate tax, interest and depreciation costs) was -4.7 billion won.
Transactions rose 18.0 percent to 34.2 trillion won and sales rose 11 percent to 148.9 billion won during the same period, the report showed. Sales in the payment sector grew 15.3% QoQ, indicating a significant increase. In particular, overseas payment sales increased 90.2% compared to the same period last year, marking the first double-digit portion of payments.
Revenue Contribution Transaction (Revenue TPV) grew by 20% to 9.9 trillion won this quarter, which is about to reach 10 trillion won in the quarter. Following the previous quarter, transactions in all areas of the service showed double-digit growth compared to the same period last year. Other services such as payment 18%, finance 23%, and remittance grew 17%, respectively.
After surpassing 40 million cumulative subscribers last quarter, the number of monthly users (MAU) exceeded 24 million for the first time this quarter. At the end of June, the number of monthly users rose 11% year-on-year to 24.25 million. The number of transactions per user is 104, up 4% from a year earlier. The number of online and offline merchants at home and abroad, the main infrastructure of the payment business, increased 32% from the same period last year to 2.19 million.
Kakao Pay Securities' deposit assets increased to about 2 trillion won at the end of July, and user activity of MTS (Mobile Trading System) increased 2.4 times compared to the fourth quarter. Kakao Pay's charging also surpassed 1 trillion won for the first time on the back of Kakao Pay Securities' deposit interest exercise and increased stock trading volume.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
