Kakao Pay, Naver Pay expand overseas payment services

[Courtesy of Kakao Pay Corp.]

South Korean online payment platforms are stepping up their efforts to promote payment services and grow customer bases beyond the borders.

Sources familiar with the matter said on Monday that Kakao Pay Corp is offering promotional events in China and Hong Kong, while Naver Pay is hosting similar events in China, Thailand, Japan, and France.

[Courtesy of Naver Pay]

The strategic move by the two online payment service providers aligns with their drive to cultivate local customer bases and build a payment ecosystem that can make their value chains more efficient.

Kakao Pay offers online payment services in 48 countries across Asia, Europe, and the United States, while Naver Pay operates in 65 countries.