Kakao Pay acquires payment startup to strengthen brick-and-mortar business = South Korea

Kakao Pay, a member of the IT giant Kakao Group that provides mobile payment services, announced on November 30 that it will acquire payment startup Payment and make it a subsidiary. Founded in 2014
Payment currently provides payment solutions and services using them. The goal is to improve South Korea's payment infrastructure, mainly at physical stores.
Payment's representative service, "Sakusei Sensei," offers convenience in billing and payment procedures for small businesses such as cram schools and rental spaces for learning.
The emphasis is on increasing. If a student's payment information is registered in the ``Payment Sensei'' system at the cram school, an invoice email will be automatically sent to the parents, eliminating the need to visit the store directly to pay.
. Since it does not go through a payment agency service, it has the advantage that the fees that the cram school has to pay are low. With the acquisition of Payment, Kakao Pay will be able to handle orders, billing and billing, and payment fees.
The company is expected to strengthen its payment system by leveraging its development technologies for banking, advance payment services, information authentication and approval, purchasing, and payment systems. In particular, we are focusing on Payment's business centered on brick-and-mortar stores.
The company is expected to start expanding.