South Korea: Naver to launch mobile remittance service

Tuesday 12 August 2014 11:50 CET | News

South Korean internet portal Naver has unveiled that is set to launch a mobile remittance service via its group-type social network service Band.

Prior to Naver’s latest decision to launch the mobile money transfer service, Kakao has also revealed its plan to start a similar service, indicating that competition is getting fiercer among major IT companies to take the initiative in the mobile financial market.

As Naver is preparing to launch the mobile remittance service, Kakao is also planning to launch a small amount payment service “Bank Wallet Kakao” and a payment service “Kakao Pay” within September 2014.

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Keywords: Naver, South Korea, mobile, remittance, Band, Kakao
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce