​Kakao Pay adds offline QR code wire transfers

Kakao Pay customers can use their given QR codes to wire transfer using QR readers in offline settings.
Written by Cho Mu-Hyun, Contributing Writer

Kakao Pay has added QR codes to their money transfer options, the company has said.

Subscribers can use their QR codes synced with their registered bank accounts to send money via all QR readers in the market, the firm said.

Scanning the QR readers will automatically bring up the Kakao Pay page on their smartphones and the user only needs to enter their password to send the money.

Both sender and receiver can enter the amount. The feature also works for those who are not friends on KakaoTalk, Kakao's chat app.

Kakao's mobile payment service last month alone handled 230 billion won ($200 million) in transations. Along with Samsung Pay and Naver Pay, it is one of the most widely used payment platforms in South Korea.

Chat giant Kakao made Kakao Pay a separate company back in April.

Kakao is attempting to integrate its various lifestyle services, such as Kakao Pay, with its AI platform, Kakao I.

Last month, the firm announced it is cooperating with GS and POSCO to build smart homes. Resident fees for the homes are expected to be handled by payment services such as Kakao Pay and Kakao Bank.

The company is also working with Samsung to sync their respective AI platforms.

Also on Monday, Kakao held a limited pre-order for its upcoming AI speaker Kakao Mini. The 30,000 available sold out within an hour, ahead of the official launch next month.

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