Kakao Pay achieved record revenue and operating profit in the second quarter of this year, driven by balanced growth across its payment, financial, and platform businesses.
The company reported consolidated revenue of 335.1 billion won and an operating profit of 58.6 billion won for the second quarter, marking a 40.6% increase in revenue and a staggering 528.2% rise in operating profit compared to the same period last year. Net profit for the quarter reached 49.6 billion won, up 251.3%.
The record performance is attributed to several factors, including growth in data-driven payment services, the expansion of the 'Kakao Pay Score' initiative, and rapid growth in its insurance and investment subsidiaries.
In the second quarter, the consolidated transaction volume reached 54.2 trillion won, a 20% increase from the previous year. By sector, transaction volume in payment services grew by 25%. Online payments increased by 16% due to the expansion of external merchant payments, while offline payments surged by 58% thanks to benefit programs like 'Good Deal.' International payments also grew by 21%, fueled by demand from inbound travel and strategic merchant promotions.
Revenue increased across all sectors: payment services revenue rose by 13% to 141.4 billion won, while financial services revenue jumped 75% to 175.2 billion won, driven by growth in investment and insurance services. For the first time, financial services accounted for over half of total revenue, reaching 52%.
Platform services revenue grew by 44% to 18.5 billion won, supported by growth in advertising and communication intermediary services. Monthly users of offline payment services surpassed 6 million, with a cumulative transaction count of 150 million for the quarter, representing increases of 21% and 31%, respectively, compared to the previous year.
Subsidiary performance also continued to grow. Kakao Pay Securities saw total entrusted assets increase by 279% year-on-year, with stock and pension assets rising by 391%. Kakao Pay Insurance reported revenue of 25.6 billion won, more than double that of the previous year.
Shin Won-geun, CEO of Kakao Pay, stated, “Our profitability-focused business structure has been established through synergies from data-driven customized services, enhanced user retention, and operational efficiency of our subsidiaries. We aim to strengthen our position as a next-generation financial platform based on our unique data and platform capabilities.”
The company reported consolidated revenue of 335.1 billion won and an operating profit of 58.6 billion won for the second quarter, marking a 40.6% increase in revenue and a staggering 528.2% rise in operating profit compared to the same period last year. Net profit for the quarter reached 49.6 billion won, up 251.3%.
The record performance is attributed to several factors, including growth in data-driven payment services, the expansion of the 'Kakao Pay Score' initiative, and rapid growth in its insurance and investment subsidiaries.
In the second quarter, the consolidated transaction volume reached 54.2 trillion won, a 20% increase from the previous year. By sector, transaction volume in payment services grew by 25%. Online payments increased by 16% due to the expansion of external merchant payments, while offline payments surged by 58% thanks to benefit programs like 'Good Deal.' International payments also grew by 21%, fueled by demand from inbound travel and strategic merchant promotions.
Revenue increased across all sectors: payment services revenue rose by 13% to 141.4 billion won, while financial services revenue jumped 75% to 175.2 billion won, driven by growth in investment and insurance services. For the first time, financial services accounted for over half of total revenue, reaching 52%.
Platform services revenue grew by 44% to 18.5 billion won, supported by growth in advertising and communication intermediary services. Monthly users of offline payment services surpassed 6 million, with a cumulative transaction count of 150 million for the quarter, representing increases of 21% and 31%, respectively, compared to the previous year.
Subsidiary performance also continued to grow. Kakao Pay Securities saw total entrusted assets increase by 279% year-on-year, with stock and pension assets rising by 391%. Kakao Pay Insurance reported revenue of 25.6 billion won, more than double that of the previous year.
Shin Won-geun, CEO of Kakao Pay, stated, “Our profitability-focused business structure has been established through synergies from data-driven customized services, enhanced user retention, and operational efficiency of our subsidiaries. We aim to strengthen our position as a next-generation financial platform based on our unique data and platform capabilities.”
* This article has been translated by AI.
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