Cafe24 Partners with KG Inicis to Support Entry into the Subscription Economy Market

Service Introduction Boosts Total Mall Sales by 15%... Targeting the MZ Generation

Cafe24 partners with electronic payment service provider KG Inicis to support online businesses in adopting subscription economy models.

[Asia Economy Reporter Lim Chunhan] Global e-commerce platform Cafe24 announced on the 7th that it is partnering with electronic payment service provider KG Inicis to support online businesses in adopting subscription economy models.

Cafe24 has launched the RentalPay application (app) in its store. With this service, online businesses can easily offer their products in rental form. With just a few clicks, complex rental procedures such as screening, payment collection, and credit management can all be conveniently handled through electronic contracts. This eliminates the need for traditional methods like phone consultations, rental screening, and debt collection, thereby enhancing operational convenience.

Cafe24 expects that with this service launch, online businesses will be able to attract rental demand from the MZ generation (Millennials + Generation Z), including young professionals and first-time workers who seek reasonable consumption. In fact, shopping malls that have adopted RentalPay have seen an average of 20% of total sales converted to rental purchases, with total sales increasing by 15%.

Lee Jaeseok, CEO of Cafe24, said, “By introducing the RentalPay service, online businesses can reduce consumers’ payment burdens and effectively convert customer demand into sales.” He added, “We will continue to connect various functions to the platform so that online businesses can respond to the ever-changing e-commerce market environment.”