Coupang's monthly card payment volume has surpassed 5 trillion won, recovering from a data breach that had previously hindered its growth.
According to AI data tech firm IGAWorks' Mobile Index, Coupang's estimated credit and debit card payments reached 5.09 trillion won in July, a 5.4% increase from the previous month's 4.83 trillion won.
Following the data breach at the end of last year, estimated payments fell to 4.02 trillion won in February but have since rebounded, marking the first time they exceeded 5 trillion won. However, the estimated payments for August saw a slight decline to 4.93 trillion won.
The number of Coupang users appears to have recovered from the impact of the data breach. Last month, the monthly active user count reached 35.95 million, up from 35.44 million in July. In February, the figure was recorded at 33.64 million.
Following the data breach in November of last year, there was a movement among some consumers to cancel their memberships, but it seems that user attrition at the consumption level has effectively ended in the short term.
Earlier, Coupang Inc. Chairman Kim Beom-seok noted during a conference call for the second-quarter earnings report last month that "some customers left Coupang for other services for several months, but they returned and have since restored their previous spending levels, showing similar high growth rates as before." He added that the number of Wow membership subscribers has surpassed levels prior to the data incident.
It is important to note that these figures are based on estimated credit and debit card payment data generated by AI algorithms, and actual transaction amounts may vary. Some payment data, such as from Naver Plus Store, is excluded from this tally.
* This article has been translated by AI.
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