▲ Kakao Pay
Kakao Pay has recorded its highest-ever quarterly performance in the third quarter of this year, driven by growth in its payment and financial services.
Kakao Pay announced today (November 3) that its consolidated operating profit for the third quarter reached 32.5 billion won, marking a 105% increase compared to the same period last year.
Revenue rose 27% year-on-year to 302.1 billion won, while net profit surged 72% to 32.9 billion won.
On a separate basis, third-quarter revenue increased 20% year-on-year to 204.9 billion won, surpassing the 200 billion won mark for the first time in a single quarter.
Separate operating profit jumped 160% to 24.9 billion won, with a net profit of 26.1 billion won.
Total transaction volume (TPV) for the third quarter reached 53.7 trillion won, up 14% from the same period last year.
Payment service transaction volume grew 25% year-on-year, driven by steady increases across online (18%), offline (44%), and overseas payments (28%).
Remittance service transaction volume also increased by 11%, boosted by a rise in stock trading volume.
Kakao Pay Money prepaid balances were maintained at around 2.8077 trillion won.
Traffic metrics also remained solid.
Daily active users (DAU) surpassed 7 million for the first time in a quarter, driven by expanded inflows into core services.
Average transactions per user (ATPU) rose 15% year-on-year to 87, and average revenue per user (ARPU) increased 23% to 12,388 won.
Looking at consolidated revenue by business division, payment service revenue rose 19% year-on-year to 154.7 billion won, fueled by an expansion of group and external merchants.
Financial service revenue came to 133.4 billion won, up 41%.
Consolidated operating expenses for the third quarter stood at 269.6 billion won. Although advertising expenses rose 55% year-on-year due to strengthened marketing by subsidiaries, the company maintained its disciplined management stance by keeping expenses at around 10% of cumulative annual revenue.
The earnings improvement among financial subsidiaries was also notable.
Kakao Pay Securities achieved 74.6 billion won in revenue and 15.7 billion won in operating profit in the third quarter.
Its quarterly stock transaction volume surged 139% year-on-year to 81.6 trillion won, and the number of monthly active trading customers increased 62% to 1.67 million.
Kakao Pay Insurance broke its record for quarterly revenue, posting 32.2 billion won in the third quarter.
This represents a sharp 93% increase compared to the same period last year.
Written premium income and regular subscription premiums increased by 79% and 122%, respectively. New contracts for mobile phone insurance jumped 127%, while new health insurance contracts expanded by 160% compared to the previous quarter.
The establishment of future growth engines is also gathering momentum.
"AI Coach," an AI-based wealth management service launched in beta last August, surpassed 450,000 cumulative visitors as of October.
In the digital asset sector, partnerships were forged with major global companies such as Circle, Fireblocks, Grab, and SCBx to build an ecosystem centered around Kakao Super Wallet.
Shin Won-keun, CEO of Kakao Pay, stated, "Amid market volatility, we have proven our fundamental strength and profit-generating capacity based on the solid growth of our core payment business and structural enhancements across our financial services. We will continue to drive qualitative growth of our platform to live up to the trust of the market and our shareholders."
(Photo: Yonhap News)
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