Coupang will enter the simple payment market within the year.
Coupang said on the 10th that it will launch a payment service called "Rocket Pay," which expands the places where Coupang Pay can be used—previously limited to Coupang, Coupang Play, and Coupang Eats—to merchants nationwide both online and offline.
Rocket Pay links payment methods such as bank accounts, credit and debit cards, and stored balance. Users can use Rocket Pay at merchants outside Coupang both online and offline. The service locations will be expanded in stages, starting with online merchants and then moving to offline payments.
Coupang unveiled a new brand identity (BI) and logo image, "Rocket Pay," in place of Coupang Pay. Regarding the launch of Rocket Pay, Coupang said it has "transplanted as is the know-how that has operated massive payment traffic worth tens of trillions of won annually without interruption."
If Coupang, which has tens of millions of subscribers, jumps into the simple payment market through Rocket Pay, it is expected to wage an intense battle for dominance with existing simple payment operators such as Naver Pay, Kakao Pay, and Toss Pay.