'Kabang Mini' Surpasses 50,000 Subscribers in Just One Day After Launch

Financial Service for Teens KakaoMini
Over 50,000 Users Registered as of 1:30 PM on the 20th

[Asia Economy Reporter Kim Hyo-jin] KakaoBank's financial service exclusively for teenagers, 'KakaoBank mini (Mini),' surpassed 50,000 subscribers within one day of its launch.

According to KakaoBank on the 20th, more than 50,000 people had signed up for KakaoBank Mini by 1:30 PM on the day following its release.

Mini is a prepaid electronic payment method that can only be opened by teenagers aged 14 to 18. The target population for this service is approximately 2,367,000 individuals aged 14 to 18.

Teenagers can sign up for the service by completing mobile phone identity verification, agreeing to terms and conditions, and creating a password, without needing to open or link a bank account. They can then use features such as ▲deposit ▲transfer ▲easy transfers between KakaoTalk friends. Additionally, a Mini card, similar to a check card, is issued. Deposits and withdrawals are possible without fees at all ATMs nationwide, and the card also includes a transportation card function exclusively for teenagers.

The maximum amount that can be stored in Mini is 500,000 KRW, with a daily usage limit of 300,000 KRW and a monthly usage limit of 2,000,000 KRW.