PAYCO becomes new payment option for YouTube

NHN PAYCO has applied the simple payment service utilizing PAYCO points to YouTube. / Courtesy of NHN

By Jun Ji-hye

NHN PAYCO has started offering its simple payment service for YouTube users, allowing them to purchase services of the global video-sharing platform by using PAYCO points, the company said Tuesday.

NHN PAYCO is a simple financial platform provider and a subsidiary of game company NHN.

The PAYCO point is a pre-paid electronic payment means provided by the nation's popular digital payment system PAYCO. Users can top-up their PAYCO points through their bank accounts with any of the 28 financial institutions that are in partnership with the company.

The company said users are now able to purchase every single service on YouTube using PAYCO points, including YouTube Movie and YouTube Premium subscriptions, which offers ad-free viewing and music streaming.

“We applied the PAYCO point to YouTube to keep pace with the explosive growth of the over-the-top (OTT) service market. This will become a good opportunity for PAYCO to approach to millennial generation who are the main consumers of video contents,” NHN PAYCO CEO Jeong Yeon-hun said. “We will strengthen the partnership with Google to make PAYCO a more attractive payment method in content markets such as mobile games.”

The PAYCO point was first applied to Google Play in November 2017 in partnership between NHN PAYCO and Google.

The new payment option has been highly appraised by Google Play users who purchase apps, movies or books, according to the Korean firm.

To pay with PAYCO points, users need to link their PAYCO account with YouTube via the “My Account” page or during the purchasing process. Those who have used PAYCO points on Google can directly use them on YouTube.