NAVER Pay On-site Payment Sees Rapid Growth in Daily Life with Samsung Pay Integration
NAVER Pay On-site Payment Sees Rapid Growth in Daily Life with Samsung Pay Integration
NAVER Pay On-site Payment Sees Rapid Growth in Daily Life with Samsung Pay Integration
- New installations of the NAVER Pay app surged 186% in April, ranking first in the Google Play Store as the most popular app
- Users participated in 14 million instances of point draws in 580,000 affiliated stores in April, enjoying benefits at various locations nationwide
- NAVER Pay on-site payment integrated with Samsung Pay will be available on the NAVER app in May
May 18, 2023
NAVER Financial (CEO Park Sang-jin) announced its major on-site payment metrics for one month following the integration of Samsung Pay with NAVER Pay on-site payment. For the month of April immediately following the integration, the NAVER Pay app recorded about 470,000 new installations, soaring 186% compared to the previous month. The app also reached the top spot as the most popular app/game in the Google Play Store in early April and was ranked first in the overall app category and the financial app category.
The average on-site payment amount per user spiked 123% compared to the previous month. In particular, users who made repeat payments of two or more times amount to 72% of the total users. By age group, the on-site payment amount for those in their 30s and 40s, the primary consumer group, saw significant increases of 206% and 219%, respectively, and the on-site payment amount for those in their 20s also went up 143%.
After the integration of Samsung Pay based on the magnetic secure transmission (MST) technology, users have enjoyed a substantial rise in benefits. During the month of April, users participated in around 14 million point draws. As the payment amount increased, the benefits the users received through on-site payment also increased notably. In April, the number of users who accumulated 10,000 points or more skyrocketed by 550%. The point draw benefits are provided in addition to the benefits offered by the credit cards linked to NAVER Pay on-site payment.
The number of stores where NAVER Pay on-site payments were conducted in April was approximately 581,000, representing about 20% of the 3 million Samsung Pay-affiliated stores nationwide. These stores extended beyond major convenience stores, cafes, and bakery franchises to include various businesses in daily life ranging from small-scale restaurants to pharmacies, hospitals, gas stations, and automobile purchases.
According to NAVER Financial, MST-based payments of Samsung Pay will be available via the NAVER app as well in May. A NAVER Financial representative said, "Users are experiencing benefits from NAVER Pay on-site payment in a wide range of stores closely related to their daily lives beyond expectations. NAVER Pay on-site payment will be established as the most sought-after simple payment service where online and offline payments are needed."
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