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Internet Company Launches Mobile Payment Platform

Daum Kakao is one of the largest Internet companies in South Korea. The company recently launched a mobile payment platform dubbed as BankWalletKakao. The company was formed a month ago as a merger of Daum, one of the largest Internet Portals in South Korea, and Kakao, the maker of South Korea’s popular messaging app KakaoTalk. The BankWalletKakao mobile payments platform is currently available on Android and iOS platforms in Korea. In order to deliver the mobile payments service, Daum Kakao has partnered with Korea Financial Telecommunications and Clearings Institute (KFTC) and 16 Korean banks. KFTC is a non-profit organization that oversees interbank payment systems

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