The Alipay of Korea....? Will there eventually be a global leader or local by local...paypal, alipay, ideal, etc.
Daum Kakao, one of the largest Internet companies in South Korea, has launched a mobile payment platform called BankWalletKakao as it addresses concerns about its ability to grow in international markets. Daum Kakao was formed last month by the merger of Daum, one of South Korea’s largest Internet portals and search engines, with Kakao, the maker of KakaoTalk, South Korea’s most popular messaging app. Daum Kakao’s chief rivals include Naver, South Korea’s top Internet portal and the maker of KakaoTalk competitor Line, which is reportedly considering its own mobile payment system.