Kakao Pay tops mobile payment app ranking

KakaoPay CEO Ryu Young-joon / Korea Times file

By Lee Kyung-min

Kakao Pay, a mobile payment and digital wallet service by Kakao Corp., received the best customer satisfaction reviews among six mobile payment service providers in Korea, a government survey showed Friday.

The Korea Consumer Agency (KCA) survey released Aug. 2 showed Kakao Pay received the best reviews among the six service providers.

The remaining five were 11 Pay (currently SK Pay), SSG Pay, Naver Pay, Samsung Pay and Payco.

The review criteria included service quality, service characteristics and likability. The study was conducted between May 13 and 19 on 1,200 service users.

Regarding the overall satisfaction rate, on a scale of one to five, Kakao Pay scored 3.94, followed by 11 Pay and Samsung Pay (3.92) Payco (3.9) and SSG Pay (3.78).

Kakao Pay was top-rated for its likability scoring 3.83, followed by Samsung Pay (3.77), Payco (3.76), Naver Pay (3.74) and SSG Pay (3.7).

Samsung Pay received the best reviews for service quality scoring 4, followed by Kakao Pay (3.99), 11 Pay (3.95), Naver Pay (3.92), Payco (3.9) SSG Pay (3.84).

11 Pay ranked first for its fast return or payment cancellation request processing, scoring 4.03, followed by Naver Pay (4.01) and Samsung Pay (3.94).

Over a third, or 37.6 percent of the respondents said easy and fast payment was the most important factor in choosing service providers.

Slightly over a quarter, or 27.3 percent, said safety and security were less of priority.

Nearly a third, or 31.3 percent, said the most inconvenient feature of the payment service was that it was not accepted by all merchants.

KCA said the reviews will be taken into account for improving service quality.

“We are happy that customers are satisfied with our service. We will continue to listen to their voices to better meet their needs,” a Kakao Pay official said.