[Edaily Reporter Kang Min-koo ] kakaopay(377300)reported consolidated operating profit of 32.5 billion won for the third quarter of this year, a 105.4% increase compared to the same period last year. The company demonstrated its growth momentum by increasing profits despite market volatility, a result attributed to the expansion of its future growth engines, including artificial intelligence (AI) and digital assets.

Kakaopay announced on the 3rd that its total payment volume (TPV) for the third quarter of this year reached 53.7 trillion won, with revenue totaling 302.1 billion won.

On a consolidated basis, third-quarter transaction volume reached 53.7 trillion won, a 14% increase from the same period last year. Revenue-contributing transaction volume rose 22% year-over-year to 16.5 trillion won, accounting for over 30% of total transaction volume.

By segment, payment services drove growth, rising 25% year-over-year. Online payments through Kakao-affiliated and external merchants grew by 18%, while offline payments—which have boosted user loyalty through diversified personalized benefits—increased by 44%. Overseas payments rose by 28%.

Money transfer services rose 11% during the same period, driven by an increase in stock trading volume. The kakaopay Money balance remained robust at 2.8077 trillion won.

User traffic also remained strong. Daily active users (DAU) surpassed 7 million for the first time, driven by increased traffic across core services. The average number of transactions per user (ATPU) rose 15% year-over-year to 87, while average revenue per user (ARPU) increased 23% over the same period to 12,388 won.

Consolidated revenue for the third quarter totaled 302.1 billion won, a 27% increase year-over-year. The company expanded its scale as core businesses, such as payments and finance, grew significantly.

Revenue from payment services rose 19% year-over-year to 154.7 billion won. Revenue from online, offline, and international payments grew evenly as synergies between the Group and external merchants increased.

Revenue from financial services rose 41% year-over-year to 133.4 billion won. Although the contribution of investment services to revenue decreased compared to the previous quarter due to market volatility, revenue grew by 32% year-over-year in line with the upward trend in stock trading volume. Insurance services posted an 80% year-over-year increase, setting a new quarterly revenue record, while loan services achieved double-digit growth with an 18% revenue increase, driven by flexible product diversification tailored to market conditions.

Revenue from platform services totaled 13.9 billion won. It decreased slightly year-over-year due to seasonal factors associated with the off-peak advertising season and stricter advertising exposure standards implemented to improve the user experience.

Consolidated operating expenses totaled 269.6 billion won. Advertising and promotion expenses rose 55% year-over-year due to the expansion of strategic marketing by subsidiaries, but remained stable at around 10% of cumulative revenue for the year.

Consolidated operating profit totaled 32.5 billion won, and net income totaled 32.9 billion won. The operating profit margin and net profit margin were 10.7% and 10.9%, respectively. EBITDA was 41.6 billion won, resulting in an EBITDA margin of 13.8%.

Kakaopay’s standalone revenue totaled 204.9 billion won, a 20% increase year-over-year. This marks the first time quarterly revenue has exceeded 200 billion won. Stand-alone operating profit reached 24.9 billion won, a 160% increase year-over-year, while net income totaled 26.1 billion won. The operating profit margin was 12.2% and the net profit margin was 12.7%, maintaining double-digit margins.

kakaopay attributed these results to: △accelerated growth in payments; △advancements in AI services; △sustained growth of its investment and insurance subsidiaries; and △strengthening the foundation of its digital asset business.

In the payments segment, the company increased its market share through seasonal promotional collaborations with Kakao Commerce services. It has also been setting new quarterly records for transaction volume through strategic partnerships with external merchants in key sectors such as travel and transportation, as well as data-driven, personalized, and highly efficient marketing.

It has also expanded the reach of its AI-based hyper-personalized services. “AI Coach,” launched in beta last August, surpassed 450,000 cumulative visitors as of October, and service utilization has increased, with 43% of visitors using AI Coach to set budget goals.

kakaopay Securities is steadily strengthening its fundamentals by continuously expanding its robust customer base and diversifying its service lineup despite external volatility. The number of monthly active users rose 62% year-over-year to 1.67 million, and quarterly stock trading volume surged 139% to 81.6 trillion won, solidifying its base of genuine investors.

kakaopay Property & Casualty Insurance set a new quarterly revenue record. Third-quarter revenue reached 32.2 billion won, a 93% increase year-over-year.

In addition, kakaopay has laid the groundwork for building a next-generation digital asset ecosystem centered on the Kakao Super Wallet to prepare for the future financial landscape. To enhance wallet usability, establish a global standard settlement network, build security infrastructure, and expand real-world use cases, the company has successively entered into partnerships with key global players such as Circle, Fireblocks, Grab, and SCBx. Last September, in collaboration with KB Financial Group, KakaoPay hosted the “Next Finance Korea” event to present a concrete roadmap for the next-generation digital asset ecosystem to the market and proposed forming a roundtable with various financial and non-financial businesses to jointly design the ecosystem.

Shinwon, CEO of kakaopay, stated, “Despite market volatility, this quarter demonstrated the company’s fundamentals and profit-generating capabilities, driven by robust growth in our core payment business and structural improvements across the financial sector.” He added, “We will continue to pursue qualitative growth of our platform through synergies within the Kakao Group and do our utmost to deliver results that live up to the trust of the market and our shareholders.”

The full details of kakaopay’s third-quarter earnings announcement are available on the kakaopay website.