Kakao Pay is entering the QR-based offline payment market in collaboration with various partner companies. The main goal is to alleviate the expense burden on small business owners and expand consumer convenience.
Kakao Pay announced on the 2nd that it signed a memorandum of understanding (MOU) for alliance building at its office in Pangyo, Gyeonggi Province, the previous day. The alliance includes KIS Information & Communication, NICE Information & Communication, BeaverWorks, OK POS, Union, Korea Information & Communication, and Kakao. The main content of the agreement includes the expansion of QR code-based table order (QR order) for small business merchants and marketing support for gaining regular customers.
Through this alliance, Kakao Pay will strengthen its cooperation system with VAN and POS partners, which play an important role in the offline payment process, and support the establishment of QR order systems for nationwide merchants. By supporting a VAN-based system, it has reduced the expense burden for merchants who wish to introduce table orders by applying the same fee as that typically used for offline store payments.
Since all that is needed is a sticker with a QR code and the customer's smartphone, merchants can save on the expense of purchasing or renting tablets, which would typically be placed at each table. The system usage fee for orders and payments is also more than half as cheap compared to tablet orders. Kakao Pay plans to conduct discount promotions together with its alliance partners. Merchants can select a suitable method for their store from a prepaid option where both ordering and payment are possible or a postpaid option where payment is made all at once at the counter after the meal.
Kakao Pay provides QR order stickers designed with Kakao Friends' Chun-sik and signage posters for stores to the VAN or POS companies participating in the alliance for free. Afterwards, the partner companies will apply their solutions to the QR order and provide support for in-store setup and stable maintenance to ensure smooth ordering and payment.
Kakao Pay is actively supporting marketing activities to help small businesses build customer loyalty. Kakao will support up to 250,000 won in messaging expenses to merchants who set up KakaoTalk channels through the Kakao Pay business solution 'Sajangnim Plus' by the end of this year. This helps manage ongoing benefits and promotional messages for customers who have become friends.
Shin Won-geun, CEO of Kakao Pay, said, "I expect that by disseminating QR orders, we can enhance the efficiency of the entire customer interaction process, including providing menus, receiving orders, and payments, while reducing labor costs and other expense effects," adding, "We will continue to seek various ways to support small business owners in collaboration with all partner companies participating in the alliance, thereby establishing a 'payment ecosystem beneficial for all.'"