Naver, Korea's largest online portal, said that its simple payment service "Naver Pay" has exceeded the 200-billion-won level within six months after launch.
Naver Pay allows users to make small payments with a Naver ID. In addition to payment for shopping, it can be used to pay for digital contents made available by Naver including its webtoons, movies, songs, and e-books.
Recently, the payment service has been in use for concerts, campsites, hotel buffets. The total number of payments including actual shopping transactions, reservations, and digital contents has surpassed 65 million since the official launch.
The monthly average sales revenue of 100 top sellers after the official version of Naver Pay was made available has increased 66 percent in six months. The total size of money transfer services has increased seven-folds from July this year.
The company said it would expand the range of usage of its Naver Pay service by adding public transportation card functionality and allowing users to pay for transactions in brick-and-mortar stores. It will also increase member privileges by giving Naver Pay points for transactions made in 72,000 merchant locations.
