1 Year After Launch, Naver Pay Hits 11 Million Users

Naver Pay has reached the 11 million active user mark, just one year after its launch. The South Korean company that the popularity of the one-click payment system was due to more smartphone users opting to make ecommerce purchases through mobile. It also added that the usability was higher than that of its international competitors, as Naver Pay only required one level of identification in order to access a pre-registered form of payment. With nearly 2.3 billion US dollars transferred through the system since last year, and 92,000 online stores joining the service, it is now the most popular online payment solution in the country, ahead of Kakao and Samsung.