Naver Pay Celebrates 10th Anniversary with "Media Day 2025"
Unveils Offline Payment Terminal "CONNECT"
Expands AI Investment and Accelerates Global Strategy
"If Naver Pay has driven the growth of Korea's e-commerce and fintech (finance + technology) markets over the past 10 years, the next decade will be a period in which we make history by rising to become a global top-tier fintech platform."
Sangjin Park, CEO of Naver Pay, made this statement during the "Naver Pay Media Day 2025" event held on the 26th at the Four Seasons Hotel Seoul in Jongno-gu, Seoul. Marking the 10th anniversary of Naver Pay's launch, Park shared the company's mid- to long-term direction for the next decade, based on the vision of "Technology that Expands Finance."
On this day, Naver Pay unveiled its offline payment terminal, "CONNECT." The strategy is to extend the know-how accumulated in online simple payments to the offline domain. To date, 85% of Koreans in their 20s to 60s have experienced Naver Pay payments. The total payment volume over the past 10 years has reached 328 trillion won. CONNECT plans to provide all payment methods for user convenience, ranging from traditional means such as cash and cards to QR codes, Magnetic Secure Transmission (MST), Near Field Communication (NFC), and facial authentication-based "Face Sign" payments. CONNECT is scheduled to launch within the year. Park introduced CONNECT as "a device that will accommodate all future payment technologies," adding, "It will be a tool that allows all merchants to provide the most advanced payment, reservation, and ordering services to visitors in a cost-effective manner."
Sangjin Park, CEO of Naver Pay, is delivering the keynote speech at the "Naver Pay Media Day 2025" held on the 26th at the Four Seasons Hotel Seoul in Jongno-gu, Seoul. Naver Pay
Naver Pay also plans to play a leading role in the industry consortium regarding the current hot topic of "KRW stablecoins," in line with policy developments. Park stated, "With artificial intelligence (AI) and Web3 technologies, users' financial literacy is improving, and the cost of cross-border financial transactions is decreasing," and added, "KRW stablecoins will become a core medium for future digital finance, connecting users across borders."
The company also plans to further advance generative AI services and personalized financial services based on big data. Naver Pay aggregates not only non-financial information based on payment data?which can process 13 billion transactions annually and up to 25,000 per minute?but also data from search, loans, insurance, cards, real estate, securities, MyData-based traffic, financial community-based information, and various business operator data. On this day, Naver Pay also unveiled the "AI Home Finder," a service that helps users find real estate listings they want using a large language model (LLM), and the "Money Briefing" service, which provides real-time information on financial assets linked via MyData. Jaebak Cho, Executive Vice President of Innobiz and head of Naver Pay's financial services, said, "The core value of Naver Pay's financial services is to thoroughly understand users' life goals and connect them to the optimal financial means to achieve them," adding, "We will expand our role in connecting financial and digital assets, as well as domestic and global markets, to address social issues such as aging and information asymmetry in finance."
Naver Pay is also conducting research and development for "better connections." To enhance users' financial security and address inconveniences, Naver Pay has invested over the past 10 years in upgrading the technology and infrastructure of its Fraud Detection System (FDS), which detects abnormal transactions in advance. This year, the amount of fraudulent payments blocked by FDS is expected to reach 3 trillion won.
Investment and advancement in AI technology development will also be further expanded. Seungbae Lee, CTO and Executive Vice President, explained, "Within Naver Pay, there is active sharing and discussion of ideas on AI utilization," adding, "Today's launch of the 'AI Home Finder' service also originated from employees' ideas, and we are reviewing the possibility of launching services such as real estate market analysis reports at the proof-of-concept (PoC) stage."
Park stated, "Going forward, Naver Pay will not only meet financial needs across all aspects of lifestyle but also provide cross-border financial services as a digital financial hub, delivering a global-level experience," and added, "Through this, Naver Pay will evolve into a global fintech platform where users can experience leading financial services powered by digital financial technologies such as AI, Web3, and robotics."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
