Naver Pay's offline all-in-one terminal "Npay Connect (hereafter Connect)" has surpassed 100,000 merchant locations nationwide seven months after launch.
According to Naver Pay on the 30th, Connect, launched in Nov. last year, was installed at more than 52,000 merchants over the past three months.
Connect is an offline all-in-one terminal that supports a range of payment methods, including cash, cards, QR, easy payment, NFC, and Face Sign. A key feature is its linkage with Naver Place, allowing the flow from payment to review writing, ordering, and coupon application.
A distinguishing feature is its intent to help merchants gather reviews through a function that connects immediately to Naver "Keyword Review" right after payment.
An analysis of the top five merchants by industry in number of reviews showed that after adopting Connect, reviews increased 230% for restaurants, 157% for hair salons, and 132% for cafes and bakeries, compared with before adoption.
By industry, restaurants accounted for the largest share of adopting merchants at 43.5%.
They were followed by general retail at 14%, cafes and bakeries at 10%, beauty at 7.5%, and medical and pharmacies at 7%. Adoption is also growing among academies and sports facilities.
By region, Seoul and the greater capital area accounted for about 43% of all installed merchants. Gyeongsang region made up 27% and Jeolla region 12%, with expansion also seen on Jeju.
Some analysts say the "samso (samgyeopsal + soju) gathering," which brought together major domestic corporations' chiefs including Jensen Huang, CEO of Nvidia, helped drive Connect's popularity. At the samso gathering held on the 5th, Lee Hae-jin, chair of Naver's board, paid for all diners at the restaurant using Naver Pay's facial recognition payment service "Face Sign," drawing significant attention.
According to Naver Pay, after Lee rang the "golden bell," the number of new face registrants during the week rose 193% from the previous week. During the same period, Face Sign payment count and payment amount increased 121% and 204%, respectively.
Lee Hyang-cheol, head leader of Npay's Pay Service, said, "We are focusing not only on the quantitative growth of Npay Connect, but also on qualitative improvements that reflect merchant feedback."