Over the same period, cumulative transfer transactions topped 4.8 billion, it said. Annual transfers rose from about 2.65 million in 2016 to about 843.1 million last year, a 320-fold jump over a decade.
This year, as of last month, average daily transfers exceeded 2.3 million, with about 240 billion won moving each day. That works out to roughly 1,600 transfers per minute, the company said.
Kakao Pay said the service has expanded beyond a simple way to send money. In 2016, users sent money to an average of five acquaintances each; by 2025, that figure had grown to an average of nine.
The company also said the service helped lower barriers to financial services, estimating users saved about 1.5 trillion won in fees over the past decade.
A Kakao Pay official said the past 10 years have focused on reducing the hassle of transfers and improving users’ daily lives, adding the company will continue upgrading the service so users can feel that finance is “closer” and keep sharing “feelings and value.”
* This article has been translated by AI.
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