Kurly Acquires PG Company to Secure Own Payment and Settlement System + Introduce Open Market
Open Market Service to Launch in First Half of Next Year... Expanding Consumer Product Choices and Partner Sales Opportunities
[Asia Economy Reporter Kim Yuri] Market Kurly operator Kurly has acquired the electronic payment gateway (PG) company 'Paybot' and started preparations for the open market service to be launched in the first half of next year.
On the 6th, Kurly stated, "Starting with the 100% acquisition of Paybot's shares, we plan to enhance our technological capabilities and build our own payment system," adding, "Once the system construction and enhancement are completed, we plan to expand our service area to an open market connecting consumers and sellers in the first half of next year, in addition to the existing business model based on direct purchasing." They explained that the open market service will strengthen product assortment and broaden customers' product selection options while also providing more opportunities for partners to sell excellent products on Kurly.
Kurly emphasized, "Even as we expand our service area to an open market, we will continue to uphold Kurly's core corporate value of providing the best quality." To this end, the product development process, through which Kurly selects excellent quality products to offer to customers, will be maintained as before.
Once the proprietary settlement system is established, it will be possible to respond more quickly to customer order-related requests. Settlements with partners will also become more convenient. Currently, Kurly operates by directly purchasing about 30,000 products from approximately 2,000 partners, 96% of whom are small and medium-sized enterprises (SMEs). Kurly expects that once the settlement service is enhanced, the increased convenience will contribute to the business stability of SME partners.
Through the acquisition of a company holding a PG license, Kurly plans to provide a simple payment system based on its own payment platform. This will increase payment convenience, allowing customers to make easy payments with just password input. Additional benefits such as various point accumulations from payments can also be directly provided to customers. Currently, Kurly offers multiple simple payment services including Naver Pay, Smile Pay, Chai, Kakao Pay, Toss, and Payco.
Kurly also plans to prepare for acquiring a MyData license, a recent hot topic. By obtaining the MyData license, Kurly aims to safely protect personal information while providing competitive services such as hyper-personalized marketing using entrusted personal data.
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