Galaxia Moneytree achieved strong results in the first quarter of this year, driven by the rapid growth of its Moneytree Card business, a simple payment platform, and the growth of credit card sales.
On May 15, Galaxia Moneytree announced that its consolidated operating profit for the first quarter reached 4.6 billion KRW, up 62.6% from the same period last year. This marks the highest operating profit for a first quarter. Net profit for the same period rose by 146.1% to 2.2 billion KRW.
The strong performance was led by the growth of the rechargeable prepaid card, "Moneytree Card," offered through the simple payment platform. Moneytree Card sales increased by 103.3% year-on-year to 2.9 billion KRW.
Sales from the company’s main business, credit cards, also grew by 4.2% year-on-year to 12.4 billion KRW, thanks to the continued expansion of B2B merchant partners. Mobile payment business sales also rose by 11.3% year-on-year to 10.4 billion KRW. The amount recharged to Moneytree Cards through mobile payments increased, further enhancing the synergy among payment methods.
The company’s scale also increased compared to the previous quarter, returning to normal operations after the TMON incident. Although some gift card merchants withdrew due to the TMON incident, the recruitment of new merchants led to higher sales compared to the previous quarter, enabling the company to quickly normalize operations and solidify its growth foundation.
A Galaxia Moneytree representative stated, "The growth of the simple payment business centered on Moneytree Card and the stable growth of our core business had a positive impact on our results," adding, "We will continue to strengthen our growth foundation by expanding gift card merchants and introducing new services."
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