[Edaily Reporter Kang Min-koo ] kakaopay(377300)reported second-quarter revenue of 335.1 billion won, a 40.6% increase year-over-year, and operating profit of 58.6 billion won, a 528.2% increase, setting a new quarterly record. This is attributed to balanced growth across all business divisions, driven by the expansion of online and offline payment services, the growth of “kakaopay Score,” and the growth of its subsidiaries.

◇External Merchants and Benefits Drive Growth in Payment Transaction Volume
According to the consolidated second-quarter transaction volume figures disclosed by kakaopay today, the total reached 54.2 trillion won, a 20% increase year-over-year. Revenue-contributing transaction volume rose 19% year-over-year to 15.7 trillion won, maintaining its share of 29% of total transaction volume for the second consecutive quarter.

By segment, payment services grew 25% year-over-year. Online payments rose 16% driven by increased spending at external merchants, while offline payments surged 58% due to the impact of benefit programs such as “Good Deal.” Overseas payments also increased by 21% thanks to rising demand from inbound tourism and promotions at strategic partner merchants.

Money transfer services rose 21% over the same period as transactions to personal accounts increased due to a surge in stock trading volume. The kakaopay Money balance continued its upward trend, reaching 2.8157 trillion won.

◇All Profitability Indicators Reach All-Time Highs
Consolidated revenue for the second quarter totaled 335.1 billion won, a 40.6% increase from the same period last year. This marks the highest quarterly revenue in the company’s history. While all three segments—Payments, Finance, and Platform—continued to expand with double-digit growth for three consecutive quarters, the company is diversifying its revenue structure through increased revenue from financial and platform services.

By segment, payment services recorded 141.4 billion won, a 13% increase year-over-year, driven by balanced growth across online, offline, and international payments.

Financial services revenue totaled 175.2 billion won, a 75% increase over the same period last year. Investment and insurance services posted significant growth of 99% and 86%, respectively. Financial services now account for 52% of total revenue, exceeding half for the first time.

Revenue from platform services totaled 18.5 billion won. Driven by sustained growth in advertising and telecommunications brokerage services, this segment saw a 44% increase compared to the same period last year.

Consolidated operating expenses totaled 276.5 billion won. Advertising and promotional expenses increased year-over-year in line with revenue growth but remained at around 8% of revenue.

Operating profit reached 58.6 billion won, a 6.3-fold increase compared to the same period last year. Net income also hit a quarterly record high of 49.6 billion won. The operating profit margin stood at 17.5%, and the net profit margin at 14.8%, maintaining double-digit figures for the second consecutive quarter.

◇ Achievements Including the Expansion of ‘kakaopay Score’

kakaopay cited the following as key achievements in the second quarter: △ Expansion of external merchant partnerships and increased data-driven cross-usage in the online payment business; △ Surpassing 6 million monthly active users for offline payments; △ Expansion and enhancement of “kakaopay Score”; and △ Rapid growth of its insurance and investment subsidiaries.

In the online payment segment, revenue from external merchants rose 22% year-over-year, increasing their share of total online payment revenue to 65%. The company attributes this to the effectiveness of a user-tailored approach based on its proprietary data and MyData. It is also shifting toward cross-channel online-to-offline payments, such as analyzing online payment behavior to provide optimal, personalized offline benefits.

In the offline payments sector, the company reached 6 million monthly active users and 150 million cumulative transactions for the quarter. These figures represent increases of 21% and 31%, respectively, compared to the same period last year. The expansion of its benefits portfolio—including “Good Deal,” ongoing benefits, and brand promotions—proved to be a key factor.

In the lending services sector, adoption of “kakaopay Score,” an alternative credit scoring model, has increased. As of the second quarter, the company has signed adoption agreements with 12 financial institutions and plans to expand this to more than 20 institutions this year.

In addition, kakaopay Securities continued its growth momentum. Total assets under custody, along with stock and pension assets, rose 279% and 391%, respectively, compared to the same period last year, sustaining triple-digit growth that exceeded the previous quarter’s performance. Second-quarter revenue totaled 121.9 billion won. Cumulative operating profit for the first half of the year reached 63.1 billion won, surpassing last year’s full-year results.

kakaopay General Insurance also continued its revenue growth, achieving 25.6 billion won in revenue—more than double the figure from the same period last year. New products such as pet insurance and mobile phone insurance continued to perform exceptionally well, and an increase in new regular-premium contracts, combined with a portfolio less susceptible to seasonal volatility, drove stable growth.

Shinwon, CEO of kakaopay, stated, “We have established a profitability-focused business model as a result of data-driven personalized services, strengthened user lock-in, and synergies from streamlining the operations of our subsidiaries,” adding, “We will solidify our position as a next-generation financial platform based on our proprietary data and platform capabilities.”