Today, Stay14 is taking a closer look at Kakao Pay, South Korea's leading mobile payment solution.
With a user-friendly interface and a multitude of features, Kakao Pay has become the go-to choose for millions of users in Korea.
So, join us as we explore how it is revolutionizing the way we make payments, send money, and more!
What is Kakao Pay?
Kakao Pay is a mobile payment and digital wallet service developed by the South Korean tech giant, Kakao Corporation.
It is like a PayPal in Korea.
It enables you to pay and transfer money as well as buy things online just by tapping your smartphone.
However, Kakao Pay can be difficult and complicated to set up for foreigners as it is in the Korean language.
Therefore, we’ll provide you with a straightforward guide to setting up the Kakao Pay app.
You just need to simply follow the steps outlined below.
How to Get Started with Kakao Pay
Step 1. Download Kakao Talk and create an account if you haven't already.
Step 2. Tap the 'More' tab in the Kakao Talk app and select 'Kakaopay'.
You will see the grey rectangular bar that is underneath your profile photo. It is because you must open your Kakao Pay account.
Step 3. Follow the on-screen instructions to link your bank account to Kakaopay.
After setting up Kakao Pay account, you will be taken to the Kakao Pay screen.
At this moment, you will have to add and link your bank information to your account.
Linking your bank account is easily described.
You will need to click on the tab directly below the balance on your Kakao Pay, which should display 0 won when you sign up for the first time. (연결된 은행 계좌가 없습니다 : There is no connected bank account / 계정 추가 : add an account ).
You need to click 계정 추가 to connect with your Kakao Pay account.
Then, you will write detail bank information.
First, you must choose bank names and logos. After selecting, enter your bank account number.
Step 4. Verify your bank account. Then, you will have to verify your bank account.
Kakao Pay will deposit 1 won to your selected bank account.
You need to type the made-up name with 4-digit letters in Kakao Pay verification box.
Step 5. Verify Phone.
Then, you need to verify your phone by using ARS service.
You must check the 2-digit number and press "ARS".
After a few seconds, you will receive an automated phone call in Korean.
All you need to do is enter the 2-digit number.
Then, the call will end on its own.
Step 6. Set up your security measures (PIN or biometric authentication).
When you open the application, it will ask you whether you want to use PIN or biometric authentication.
I strongly recommend using biometric authentication for the convenience.
Step 7. Now, you're now ready to use Kakao Pay for various transactions!!
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