"Easy and Secure Document Delivery Based on the National Messenger KakaoTalk"
"Mobile Electronic Notification Market to Grow to 2.1 Trillion KRW in 2023"
[Asia Economy Reporter Jin-gyu Lee] Kakao Pay announced that it will expand its electronic document service, which allows users to receive various bills and notices via KakaoTalk, to realize a 'paperless' era.
On the 16th, Kakao Pay announced at a media seminar held at the Korea Chamber of Commerce and Industry in Seoul that it sent 53 million electronic documents last year, recording more than double the growth compared to the previous year.
Seunghyo Lee, Chief Product Officer (CPO) of Kakao Pay, said at the seminar, "Since Kakao Pay started mobile-based electronic document services, we have the richest experience, and because public and financial institutions, which guarantee security and reliability, are our main customers, we are well prepared." He added, "Not only can electronic documents be easily delivered through KakaoTalk, the largest platform in Korea, but we have also prioritized personal information protection as our top task."
He further explained, "Previously, as the electronic document market was in its initial stage, we focused on the distribution of electronic documents centered on public and private institutions. After passing through the activation stage of the electronic document market, in the long term, Kakao Pay alone will enable the entire nation to easily receive electronic documents, realizing a paperless era."
Kakao Pay launched Korea's first mobile messenger-based electronic billing payment (EBPP) service, 'Kakao Pay Bill,' in February 2016, providing services to manage and pay various living expense bills. In March 2018, it became the first mobile-based company designated as an official electronic document intermediary by the Ministry of Science and ICT, sending electronic mails, important documents, bills, notices, and announcements for over 100 major public institutions, private, and financial organizations.
Based on platform influence and thorough security, Kakao Pay sent 53 million electronic documents last year, recording more than double the growth compared to the previous year, actively promoting the activation of the domestic electronic document market. To help the electronic document market thrive, Kakao Pay plans to expand its business area by leveraging its long-accumulated know-how and environmental changes such as the revision of the Electronic Document Act. The CPO explained, "The mobile electronic billing market size is expected to grow from 93.9 billion KRW last year to 2.1 trillion KRW by 2023."
For important electronic documents delivered via Kakao Pay, users can view them after identity verification through 'Kakao Pay Authentication.' Kakao Pay Authentication, launched in June 2017, is Korea's first mobile messenger-based electronic document and electronic signature authentication service, allowing users to issue and use certificates through a simple procedure. For receiving documents requiring identity verification, such as registered mail, electronic documents received in Kakao Pay can be verified through a simple authentication process.
Kakao Pay Authentication has been introduced to over 100 institutions by reducing authentication steps and increasing customer satisfaction, with more than 15 million certificates issued. Considering environmental changes such as the revision of the Electronic Signature Act this year, the cumulative number of issued certificates is expected to surpass 20 million.
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