Naver Pay and Kakao Pay are offering fee relief for micro and small merchants ahead of the Lunar New Year holiday, aiming to ease costs for small businesses and expand inclusive finance.
Naver Pay said Tuesday it is covering 100% of payment fees for eligible micro and small in-store merchants through Feb. 22. The support is applied automatically with no separate application. Fees are refunded for transactions paid with points or money via QR payments or Samsung Pay.
The company has previously supported smaller merchants by fully covering in-store payment fees during the COVID-19 period and waiving online payment fees for new merchants. Through its “Fast Settlement” service, it pays out as early as the day after shipping begins, or about three days after payment, to reduce cash-flow pressure. Cumulative early settlements have reached 60 trillion won. It also offers tools such as the merchant platform “N Pay Biz” and the offline terminal “N Pay Connect” to improve operations.
Working with financial firms and guarantee institutions, Naver Pay also provides guaranteed loans for small businesses, including merchants using Smart Store or Smart Place or those that have installed N Pay Connect. It said preferential guarantee coverage ratios and interest support help lower financing burdens.
Kakao Pay earlier waived 100% of payment fees for micro merchants, both online and offline, for one week from Feb. 9 to 15. It was the company’s fourth holiday-season fee support program for micro merchants.
Beyond fee waivers, Kakao Pay said it is supporting offline stores’ digital transition by working with VAN and POS operators to build table QR ordering systems. It also provides store management and CRM solutions to help merchants retain repeat customers.
A fintech industry official said, “We hope the fee support ahead of the Lunar New Year holiday will provide practical help to micro and small business owners,” adding, “We will continue to expand win-win financial services.”
* This article has been translated by AI.
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