Kakao Pay Posts Record-High Net Profit of 49.6 Billion Won in Q2

Kakao Pay announced on August 4 that it recorded a quarterly record high net profit of 49.6 billion won for the second quarter.

Consolidated revenue for the second quarter was tallied at 335.1 billion won, marking a 41% increase year-on-year. All segments—payment, financial, and platform—posted double-digit growth for the third consecutive quarter.

Payment services revenue climbed to 141.4 billion won, up 13% compared to the same period last year, driven by growth across online, offline, and overseas payments. Financial services generated 175.2 billion won, a 75% surge over the previous year. In addition, platform service revenue, buoyed by advertising and communication brokerage, rose 44% to 18.5 billion won.

Consolidated operating profit was recorded at 58.6 billion won. The operating margin stood at 18%, while the net profit margin was 15%.

Key achievements for Kakao Pay in the second quarter included: ▲expansion of external online payment merchants, ▲surpassing 6 million monthly users for offline payments, ▲wider adoption of "Kakao Pay Score," and ▲growth of its insurance and investment subsidiaries.

In particular, adoption of "Kakao Pay Score," an alternative credit assessment model, increased in the loan service sector. As of the second quarter, 12 financial institutions have signed contracts to adopt the model. Kakao Pay plans to further advance the model by developing new evaluation criteria and segmenting evaluation targets.

Kakao Pay Insurance posted revenue of 25.6 billion won, more than double the figure from the same period last year. New products such as pet insurance and mobile phone insurance maintained strong momentum, while steady growth in regular premium new contracts contributed to stable expansion. Direct written premiums for the quarter rose 66% year-on-year, while regular premium income increased by 134% over the same period.

Shin Wongun, CEO of Kakao Pay, stated, "Our profitability-centered structure has become established as a result of sustained efforts toward data-driven personalized services, stronger user retention, and operational synergies from subsidiaries. We will further solidify our position as a next-generation financial platform leveraging our proprietary data and platform capabilities."

This content was produced with the assistance of AI translation services.