[Image of Npay Connect]
Lee Hae-jin, chairman of Naver's board, demonstrated the facial recognition payment service "FaceSign" during a meeting with Jensen Huang, CEO of Nvidia, and other major domestic business leaders. Following this demonstration, usage of the service has surged.
Naver Pay reported on June 30 that in the week following the meeting, the number of new face registrations increased by 193% compared to the previous week. During that time, the number of FaceSign transactions and the total transaction amount rose by 121% and 204%, respectively. Lee showcased the payment process using the offline integrated payment terminal "Npay Connect."
The number of merchants using Npay Connect has exceeded 100,000, just seven months after its launch in November of last year. Notably, 52,000 new merchants have been added in the last three months alone, indicating a rapid expansion.
Npay Connect supports various payment methods, including cash, cards, QR codes, near-field communication (NFC), mobile payments, and FaceSign. It also offers marketing features such as review writing, ordering, and coupon management in conjunction with Naver Place.
Naver Pay analyzed that the "keyword review" feature, which allows users to easily write reviews immediately after payment, has positively impacted merchant acquisition. An analysis of the top five merchants by review count in different sectors showed that reviews increased by 230% for restaurants, 157% for beauty salons, and 132% for cafes and bakeries after the introduction of the terminal.
Lee Hyang-cheol, head of Naver Pay's payment services, stated, "We are focusing not only on the quantitative growth of Npay Connect but also on enhancing services based on merchant feedback. We aim to establish it as a key offline infrastructure that supports the growth of small businesses by strengthening partnerships with payment ecosystem partners."
* This article has been translated by AI.
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