According to DirectorTalk Interviews, KakaoPay will augment the direct carrier billing payment options already provided by Boku across all three major mobile operators in South Korea. Therefore, consumers are enabled to make digital purchases through the video game store by using their KakaoPay mobile wallet via the Boku platform.
Furthermore, Boku’s support for tokenized payments allows consumers to use 'mobile payment on file' for subscription or repeat purchases, without having to reauthorise payment details.
Overall, mobile payments are a popular payment method in South Korea and forecasts show them growing at a 12.8% CAGR, reaching USD 189 billion by 2025. In 2019, ecommerce payments in South Korea via direct carrier billing reached USD 3.5 billion annually while e-wallets passed USD 12 billion annually, DirectorTalk Interviews stated.
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